💡Today, I want to analyze the Wormhole(W) project for you, which has been listed in different exchanges for less than 3 days.
📚What Is Wormhole(W)❗️❓
🔸Wormhole is the leading interoperability platform that powers multichain applications and bridges at scale. Wormhole provides developers access to liquidity and users on over 30 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more.
🔸The wider Wormhole network is trusted and used by teams like Circle and Uniswap, and to date, the platform has facilitated the transfer of over 35 billion dollars through over 1 billion cross-chain messages.
🏃♂️Wormhole(W) is currently moving near the 🔴Resistance zone($1.050-$0.997)🔴and Resistance lines (the upper lines of the wedge pattern).
📈From the point of view of Classical Technical Analysis, Wormhole(W) seems to have succeeded in forming a Falling Wedge Pattern.
🔔I expect Wormhole(W) to start going up(🚀40%🚀)to the 🔴Resistance zone($1.280-$1.200)🔴 after touching the 🟡Potential Reversal Zone(PRZ)🟡.
❗️⚠️Note⚠️❗️: If Wormhole(W) breaks the 🟡Potential Reversal Zone(PRZ)🟡 , the analysis will fail (if Wormhole(W) breaks the 🔴Resistance zone($1.050-$0.997)🔴, it will be a more reliable entry point).
❗️⚠️Note⚠️❗️: An important point you should always remember is capital management and lack of greed.
Wormhole analysis (WUSDT), 1-hour time frame ⏰.
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy; this is just my Idea, and I will gladly see your ideas in this post.
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