WAL Technical Analysis Feb 19

WAL has dropped 4.86% in the last 24 hours and is stuck at the 0.08$ level under downtrend dominance. RSI at the 35 level is signaling bottoms while MACD shows bullish divergence with a positive histogram; this indecisive structure makes both an upside breakout and downside continuation possible.

Current Market Situation

WAL price is moving sideways around 0.08$, under negative pressure with a 24-hour change of -4.86%. The daily range has narrowed between 0.08$-0.09$, volume remains low at 4.12M$, and the downtrend continues. RSI(14) at 35.33 is approaching the oversold region but has not yet produced a definitive bottom signal. The MACD indicator hints at bullish momentum with expanding positive histogram, but the price is still below EMA20 (0.09$) and short-term bearish. Supertrend gives a bearish signal, with main resistance emerging at 0.10$. In MTF analysis (1D/3D/1W), 10 strong levels have been identified: 1 support/2 resistances on 1D, 2S/2R on 3D, balanced distribution of 2S/3R on 1W. Critical support at 0.0683 (strength:65/100), resistances at 0.0825 (62/100) and 0.0896 (62/100). This setup indicates consolidation awaiting increased volatility; traders should monitor volume and momentum changes.

Scenario 1: Bullish Scenario

How Does This Scenario Play Out?

For the bullish scenario, a clear break above the 0.0825$ resistance is required first; then 0.0896$ and 0.10$ Supertrend resistance should be tested. RSI must cross above the 50 level to confirm momentum, and MACD histogram should expand to produce a bullish crossover. A sustained close above EMA20 (0.09$) and volume increase (above 50% of current 4.12M$) would be triggers. Holding 1D and 3D supports (0.0683$) in MTF signals a challenge to 1W resistances (0.10$+). Under these conditions, short squeeze and FOMO flow accelerate from oversold RSI, leading to a breakout from the downtrend channel. Cancellation criterion: Close below 0.0683$ invalidates the scenario.

Target Levels

First target is the 0.10$ Supertrend level (approx. 25% gain), followed by main target at 0.1189$ (strength score 13/100, fib extension level). In a more aggressive rally, the 0.12$-0.14$ range toward 1W resistances can be monitored, but BTC correlation and volume confirmation are mandatory. Risk/reward ratio can be calculated around 1:3 from current levels; traders should use 0.0896$ for partial profit-taking.

Scenario 2: Bearish Scenario

Risk Factors

The bearish scenario is triggered by rejection at the 0.0825$ resistance; breaking the 0.0683$ support then accelerates the downtrend. RSI dropping below 30 signals new lows, with MACD histogram contraction or negative crossover as risk factors. Persistence below EMA20 and volume spike (selling pressure) provide confirmation. Testing 1W supports (lower levels) in MTF forms a 3D bearish continuation channel. BTC downtrend and rising dominance create additional pressure on alts. Cancellation criterion: Close above 0.0825$ breaks the scenario.

Protection Levels

First protection at 0.0683$ (strong support), with a break potentially leading to the 0.05$ range. Main target at 0.0240$ (score 22/100, long-term bottom), calculated based on fib retracement and MTF supports. Deeper drop risks zeroing below 0.02$; stop-losses should be set below 0.0683$, with R/R potential at 1:4.

Which Scenario to Watch?

Key triggers: Volume increase (upward for bull, downward spike for bear), RSI divergence (35 to 50+ bull, 30- bear), MACD crossovers, and closes at 0.0825$/0.0683$ levels. Daily candle patterns (bullish engulfing vs bearish breakdown) and 4H Supertrend flips provide confirmation. BTC movement is decisive: Holding above 67,957$ is bullish, break below 65,143$ greenlights bear. Traders should monitor WAL Spot Analysis and WAL Futures Analysis pages to manage leverage risk. Volatility is high in both scenarios; position size should be limited to 1-2% risk.

Bitcoin Correlation

BTC at 67,174$ with -1.02% change in downtrend; Supertrend bearish and rising dominance signal caution for altcoins. Alts like WAL have high correlation with BTC (0.85+%); if BTC breaks 65,143$/62,910$ supports, WAL accelerates toward 0.0683$ test. Conversely, BTC breaking 67,957$/70,639$ resistances strengthens WAL’s bullish scenario, activating 0.10$+ targets. BTC 60,000$ is critical support, drop below could trigger altseason end; traders should monitor BTC dominance (55%+) and WAL/BTC pair (downward bias) in parallel.

Conclusion and Monitoring Notes

WAL at a critical juncture: Breaks at 0.0825$/0.0683$ will determine scenarios, with RSI/MACD/BTC alignments as confirmation mechanisms. Monitoring list: Daily closes, volume >5M$, MTF levels (0.10$/0.0240$). No market news flow, but global risk appetite (Fed, inflation) has indirect impact. Traders should act according to their own risk tolerance, comparing WAL spot and futures markets. This analysis is for understanding probabilities; decisions are individual responsibility.