Walrus (WAL) rose 2.18% over the past 24h, but faced intraday volatility with a pullback from higher levels. Key factors:
Resistance at $0.149–$0.150 – Profit-taking after recent rally.Token Unlocks – 3.27M
@Walrus 🦭/acc unlocked, increasing sell pressure.Market Rotation – Bitcoin dominance (58.95%) limits altcoin momentum.
Deep Dive
1. Technical Resistance & Profit-Taking (Mixed Impact)
Overview: WAL tested the $0.149–$0.150 resistance zone, a critical level rejected multiple times since January 6. Despite breaking above it during the recent Binance campaign-driven rally, traders took profits as the RSI (14-day: 58.6) approached overbought territory.
What this means: Resistance zones often trigger sell-offs, especially after rapid gains (+29% in 7 days as of January 9). The 24h volume dropped 6.43% to $14.9M, signaling reduced buying momentum.
What to watch: A sustained close above $0.166 (23.6% Fibonacci level) could renew bullish sentiment.
2. Token Unlock Dynamics (Bearish Impact)
: 3.27M
$WAL tokens (~$530K) entered circulation on January 6, part of routine unlocks from early investors and teams. This increased circulating supply to 31.54% of total supply.
What this means: Unlocks often lead to selling pressure if demand doesn’t absorb new supply. WAL’s turnover ratio (volume/market cap) of 5.87% suggests moderate liquidity to handle this, but smaller traders may panic-sell during dips.
3. Broader Market Neutrality (Neutral Impact)
Overview: Crypto markets are in “Bitcoin Season” (Altcoin Season Index: 24/100), with BTC dominance at 58.95%. Total crypto liquidity dropped 36.38% in 24h, favoring large caps over alts like WAL.
What this means: WAL’s 11.14% weekly gain still outpaces Bitcoin’s 4.43%, but macro uncertainty (Fear & Greed Index: Neutral) tempers speculative bets on smaller projects.
Conclusion
WAL’s intraday dip reflects natural profit-taking at resistance and token unlock mechanics, offset by strong mid-term momentum from Binance campaigns and Sui ecosystem growth. Key watch: Can
#Walrus_Expoler hold $0.157 (pivot point) to consolidate gains, or will unlocks and BTC dominance trigger deeper corrections?
#walrus