Crypto markets were deeply affected by US President Donald Trump’s statements over the weekend. On Saturday, March 21, Bitcoin (BTC) fell below the $68,000 level after remaining above it for nearly two weeks.
As a result, the altcoin market also faced losses. Select altcoins showed significant relative strength against the market, and World Liberty Financial (WLFI) was one of them. While it gained 2% in value in the last 24 hours, BTC decreased by 3.22%.
Is it time to buy WLFI?
Maybe day traders can look into this, but for long-term investors this is not possible. Price action on the 1-day chart has been heavily bearish despite gains over the last three days. The $0.095-0.10 support, on which WLFI has been trading since February, was broken on Thursday, March 19.
At the time of this writing, this supply area was being retested as resistance. Volume indicators were unanimously bearish, as was WLFI’s price action. OBV and A/D continued their downward trend, indicating that selling pressure continues.
CMF being below -0.05 indicates that capital outflows are dominant. The demand was temporary and not enough to reverse the current downward trend.
What can WLFI investors expect next week?
The World Liberty Financial token reached a 23.6% extension level at $0.0885 on Friday, March 20. The RSI on the H4 chart has risen to neutral 50 and is poised to fall further along with the price.
The importance of the $0.095-$0.10 supply zone has already been highlighted. Traders can be prepared for rejection from this area and a continuation of the downtrend.
Bitcoin was trading at a significant support and could see the price rise above $70,000. This could give altcoins some strength in the short term and encourage WLFI to rise above $0.10.
Investors should remember the altcoin’s bearish nature. A break of $0.107 is needed to turn the H4 structure bullish. Until then, traders and investors can remain bearish.
Final Summary
- The World Liberty Financial token saw some gains in the short term, but the long-term trend was bearish.
- $0.095-0.10 is an important supply zone and $0.107 must be exceeded to move the price structure upwards.
