WINK (WIN/USDT) is facing a correction after being rejected from a key market level, indicating a possible shift to a bearish trend.
WINK and Monthly Bearish FVG
Recent price actions show WINK being rejected after testing the monthly bearish FVG near the $0.00005600 mark. This area acted as a ceiling for bullish attempts, pushing price back into the 1D fair value gap. However, the lack of follow-through suggests that bears are beginning to take control.
Next Support at $0.00004842
The current technical support lies in the form of a weekly bullish order block at approximately $0.00004842. This level has historically held during high-volume corrections, acting as a base for short-term reversals. Given the current structure and market rejection signals, the probability of a move toward this support zone has increased.
Weak Buyer Momentum Indicates Potential Decline
The 1D structure reveals limited buyer activity despite the temporary bounce within the daily FVG. When the market slows down and movement across many assets fades, it becomes more likely that prices could fall further. Experts suggest monitoring the market around $0.00004842 to see if the price stabilizes or falls again.
With current bearish signals in the market, WINK faces the risk of further declines, and careful monitoring of key support levels may prove crucial for future trading decisions.
