Whiterock (WHITE) surges 660% despite RWA market losses
Summary of Key Points
Whiterock (WHITE) has surged by 660% in just one week, with a 64% increase in the last 24 hours alone. While the overall market for Real-World Asset Tokens (RWA) has faced losses, Whiterock has continued to rise significantly. The token’s market capitalization now stands at $811 million USD. But what comes next?
Whiterock Defies Market Trends
While many RWA tokens have experienced losses in recent weeks, Whiterock has continued its upward trajectory. Since February 23, the total increase has reached 922%. Notably, the trading volume has surged by 134%, indicating sustained strong buying interest.
Technical Analysis: Support and Resistance Levels
The price movement shows a clear upward trend. Key support levels are at $0.0006 and $0.0008 USD, corresponding to the 61.8% and 78.6% retracement levels of the recent rally. If the price declines further, these levels could serve as potential support points.
A bearish divergence signal between the price movement and the Relative Strength Index (RSI) suggests that a correction may be imminent. While the price has reached new highs, the RSI indicates weakening momentum. If the On-Balance Volume (OBV) does not drop significantly, this could mean that selling pressure remains limited during the correction.
What’s Next?
The next 24 to 48 hours could be crucial. If the price stays above the support levels, the upward trend may continue. However, if selling pressure increases, Whiterock could drop below $0.0006 USD. Investors should closely monitor trading volume and price movements.
Our Assessment
Whiterock has demonstrated an impressive price performance while the overall RWA market remains weak. The high trading volume indicates continued interest, but technical indicators suggest a potential correction. In the short term, price movements remain uncertain. Investors should keep an eye on support levels and watch for further market developments.
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