The cryptocurrency market is once again experiencing turbulence as Ethereum's price dropped to $4,375, negatively impacting altcoins like World Liberty Financial.
WLFI Liquidations
The recent drop in WLFI triggered significant liquidations in trading. According to Coinglass data, over $8.18 million was liquidated in the last hour, with long traders suffering $5.48 million in losses while shorts lost about $2.70 million.
Future Downside Perspectives
On the 4-hour chart, WLFI has broken down from an ascending broadening wedge pattern, often viewed as bearish. A drop below the $0.20 support level could lead to further declines towards a target near $0.086, potentially acting as a rebound point for buyers.
Current Market Situation
Currently, WLFI is trading around $0.1893. If the token fails to reclaim the $0.20 resistance area, its future trajectory may be under pressure.
The situation in the cryptocurrency market remains unstable, highlighting the risks associated with trading WLFI in the wake of Ethereum's decline.
