WAL's recent trend has indeed been a bit tough… The current quote is 0.1399 USDT, with a 24-hour decline of 1.20%, showing no signs of improvement. The most heartbreaking part is that the price has already fallen below all major moving averages, indicating a clear short-term resistance.

Let's first look at the trading volume. 57.58 million WAL traded, equivalent to 8.15 million USDT. Honestly, it's not too cold, but the price just couldn't hold. There's something strange here — the volume is decent, but the price keeps going down, which suggests that buying pressure is really weak.

All the moving averages from MA30 to MA180 are stacked in the range of 0.1411 to 0.1447, with the current price firmly below them. What does this mean? The recent upward momentum is basically nonexistent; the trend is downward.

The KDJ indicator currently shows K at 26.7, D at 23.7, and J at 32.7, all hovering around 30, already entering the oversold zone. But here’s the point — although it's oversold, the rebound signals are still not strong enough; oversold conditions alone don't necessarily mean an immediate rebound.

Let's also look at the performance across different periods, which varies quite a bit. Last week, it only increased by 4.95%, a small rebound, but once it entered the monthly chart, it turned downward, with a 30-day decline of -7.90%. Looking further ahead, it's worse — a 90-day drop of 42%, and over a one-year cycle, a decline of -68%. This indicates that the long-term downtrend has not yet changed.

Overall, WAL is currently oscillating in a weak state, with no real trend reversal yet. Short-term, it's being heavily suppressed by the moving averages. Although the KDJ is oversold, there's a lack of confirmation for a rebound. If the price can't reclaim the key zone of 0.142-0.144, it may continue to test lower. The long-term trend remains in a downward channel. If you want to catch the bottom, it's better not to rush; wait for volume to increase or the price to break back above the moving averages before considering.