$WAL
Current Price: $0.1580, showing a decline of -2.35% over the last 24 hours.
Price Action: The asset is in a short-term bearish phase. It is currently trading near its 24-hour low ($0.1544) rather than its high ($0.1629).
Trend: On this 1-minute view, the price is trending downward, characterized by lower highs and lower lows.
Technical Indicator Analysis
The chart primarily uses Bollinger Bands (BOLL), which measure volatility and potential price reversals:
Bollinger Bands Position: The price is currently hugging the Lower Band (DN: 0.1578). Generally, when the price stays near the lower band, it indicates strong downward momentum, though it can sometimes signal an "oversold" condition for a brief bounce.
Middle Basis (MB: 0.1581): The price is currently below the middle orange line. This acts as immediate resistance; the price needs to break above this to show any signs of a short-term recovery.@Walrus 🦭/acc
Volume: The volume bars at the bottom show a significant spike in selling pressure (the tall red bar) earlier in the session, followed by decreasing volume. This suggests the initial aggressive selling has slowed, but there isn't enough buying pressure yet to reverse the trend.
Observations & Summary
Sentiment: Bearish. The chart shows a lack of immediate support, as the current price is struggling to stay above the lower Bollinger Band.
Key Level to Watch: $0.1581. If the price can reclaim the middle Bollinger Band line, it might consolidate or move toward the upper band ($0.1583). If it continues to slide below $0.1578, the downtrend .#walrus