The recent turmoil in WAL's contract chart has left many people pondering how to operate. According to real-time data, the price is currently fluctuating around $0.157. Although the 24-hour decline is only 0.56%, looking at the weekly chart shows an 11.7% increase this week, indicating a relatively solid technical foundation.

Let's first look at some key technical levels that determine the market direction. The resistance level is in the $0.149 to $0.150 range. When the price previously surged to this area, it was pushed back. This is both a classic Fibonacci 50% retracement level and a psychological barrier. Without sufficient volume, a breakout would be quite challenging.

How about the support levels below? The 7-day simple moving average (SMA) remains steady at $0.150, while the 30-day moving average is lower at $0.134. If the price can stay above the short-term moving averages, it indicates that the bulls still hold the momentum. From the momentum indicators, the MACD shows a bullish signal, but the RSI-7 has already reached 67.48, approaching the overbought warning level of 70. This suggests that the upward momentum in the short term may weaken, possibly requiring a consolidation phase.

Looking at the broader market perspective, Bitcoin is now holding above $95,000, but its market dominance has reached 59%. This means funds are mainly chasing Bitcoin, and the overall altcoin ecosystem feels somewhat "anemic." In such a market atmosphere, for WAL to rise independently and strongly, it indeed needs to digest this pressure.