Walrus: persistent sell momentum led to 7.96% price decline

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Walrus slides 7.96% today

Highlights

Walrus (WAL) trades at $0.2082, down 7.96% daily, remaining below key moving averages MA-20 ($0.2361), MA-50 ($0.3404), and MA-200 ($0.4398).
Technical analysis shows bearish momentum for WAL, with MACD, ADX, RSI, and CCI all issuing strong sell signals and price near session lows.
WAL is forecast to range between $0.2155 and $0.2263 over five days, with less than 20% probability of price increase and greater decline risk below $0.2048.

Bearish momentum persists amid strong ADX and oversold signals

Technical analysis highlights persistent bearish momentum for WAL. The closest resistance is defined by the Ichimoku Kijun at $0.2407, with no nearby moving averages offering support. MACD issues a strong sell signal, ADX confirms a robust downtrend, while oscillators like RSI and CCI also register sell signals. The Stoch RSI is neutral, but both daily and weekly RSI figures sit near oversold levels. Intraday volatility is high, with sustained pressure following the open and price trading near session lows. The Awesome Oscillator and BBP further confirm the seller’s control, though some divergence between a strong ADX and oversold oscillators points to possible, but not immediate, exhaustion.

Further declines likely as upside breakout appears remote

In the short term, WAL is expected to trade between $0.2155 and $0.2263, averaging near $0.2209 over the next five days. The probability of a price increase is very low (less than 20%), making further decline the dominant scenario. A sideways move within the forecast range is the baseline expectation. Downside risks intensify if price closes below $0.2048, while a bullish reversal would only become likely with a break above the $0.2407 resistance, which is not supported by current signals.

Anton Kharitonov, leading analyst at Traders Union, points out that WAL continues to display dominant bearish momentum, confirmed by price action below all key moving averages and multiple sell signals from technical indicators. He believes that as long as the $0.2407 resistance remains unbroken and the absence of supportive news persists, the probability of a sustained rebound is minimal. Kharitonov remains defensive given the high volatility and strengthening downside risk if $0.2048 is lost. "With no bullish signals appearing and price action confined to lower ranges, I see no reason to look for upside until key technical levels are reclaimed."

Last time we reported that Walrus experienced heightened market activity as KuCoin Futures launched a WAL perpetual contract during a token unlock event. It was also noted that oscillators show mixed signals, including a bullish RSI divergence but with the Awesome Oscillator reaffirming continued bearishness.

Source of Data: WAL Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.