Wormhole Price Approaches New High – Will W Continue its Bullish Trend?

Wormhole (W) is nearing a potential breakout, having reached $0.09216 on August 10th and since retraced slightly with a decrease in trading volume. While momentum has cooled, the token’s technical indicators offer mixed signals: the RSI has retreated to 49.4 from overbought levels, while the MACD histogram continues to show a slight positive trend. Key support lies at $0.085, aligning with the 50-day EMA at $0.0818. A decisive drop below this range might trigger selling pressure. Traders are also eyeing the 4-hour VWAP at $0.0927 as a potential breakout confirmation point.