Waves initiated in WALUSDT following regain of $0.44, with potential aim at $3 as next objective.
In the world of cryptocurrencies, Walrus (WAL) is making waves. According to a recent analysis by market researcher CryptoBullet, the digital asset has broken past the significant $0.44 barrier, initiating Wave 3 of its Elliott Wave cycle.
The current trend on the daily chart for Walrus (WAL) remains consistent with a bullish trend flow. Each internal wave of this cycle has maintained healthy depth and proportion, fitting well within the larger framework. This consistency ensures the continuation of the trend without technical failures.
After a correction to $0.33, Walrus (WAL) is now building higher highs, indicating bullish control. This bullish control is further reinforced by the fact that support levels have held firm across pullbacks. Consolidation zones have not triggered breakdowns, adding to the confidence in the trend continuation.
The five-wave diagonal seen in Wave 1 of the Elliott Wave cycle has built the foundation for the current breakout. This diagonal structure has provided a solid base for the subsequent waves, setting the stage for the current bull run.
The $0.44 level, which was previously resistance, is now being used as solid support for Walrus (WAL). This shift in levels underscores the strength of the current bullish momentum. The price of Walrus (WAL) is currently trading at $0.4436, up 8.64% on the session.
According to CryptoBullet's assessment, the projected price range for Walrus (WAL) during Wave 3 of its Elliott Wave cycle is approximately $0.20 to $0.78. The next target for Walrus (WAL) during Wave 3 is between $2 and $3, based on the 1.618 extension.
Bullish interest among momentum traders is increasing, as the price of Walrus (WAL) forms higher highs and stable lows, preserving symmetry and wave proportion. The current pattern closely mirrors an ideal leading diagonal, supporting the extended move in Wave 3.
With no heavy resistance ahead, traders see more room for upside in the current move for Walrus (WAL). The $0.44 level remains pivotal for bulls, as a strong hold here could set up Wave 4 to potentially pause, thereby setting up Wave 5 to carry the price higher, possibly to the $5 range.
In conclusion, the bullish trend for Walrus (WAL) remains intact, and the digital asset is currently in the midst of a significant bull run. Traders and investors are keeping a close eye on the asset, as the potential for further gains looks promising.
- The surge in Walrus (WAL) has attracted attention in the realm of cryptocurrency and finance, with its bullish trend and consistent price action being a magnet for investors looking to profit from technology-driven assets.
- Capitalizing on this bull run, investors and momentum traders are increasingly investing in Walrus (WAL), as the digital asset's price continues to establish higher highs and shows no sign of slowing down, maintaining the trajectory of its Elliott Wave cycle.
