- A whale bought a notable amount of WIF, with intelligent money also aligning
- Spot traders, on the other hand, sold the assets, opposing possible market gains
WIF has been on a downward trend for more than a month now, recording significant losses. During the last week only, it decreased by 36.28% on the graphics, there was also the possibility of new drops.
The last 24 hours reflected the state of the lower market, because the sales pressure continued to climb despite the whales and the intelligent monetary trading activities. In fact, Ambcrypto noted that spot traders could be the cause of the drop in WIF price during their sellers.
Whales and smart money try to save wif
There was an important decision of whales – which control substantial parts of the offer of an asset – and intelligent money, known for making profitable transactions.
In a recent decision, a whale bought 9.6 million WIF worth $ 6.9 million in Binance. Movements like this are considered optimistic, because whales generally accumulate WIF at lower prices before an increase in potential prices.
Source: Lookonchain
According to Stalkchain, WIF remains one of the most bought tokens on the market in the last 24 hours. The intelligent monetary cohort acquired WIF worth thousands of dollars during this period.
Despite this activity of whales and smart money, however, it is possible that the expected rally is delayed.
Profits – Spot traders sell wif
While the whales accumulated, ad hoc traders on several cryptocurrency grants have sold – after consecutive purchase days.
According to Exchange Netflow, quince data, spot traders sold a total of $ 930.60,000 in WIF in the last day.
Source: Coringlass
This sales activity followed three consecutive days of purchase of $ 15.14 million in WIF. This decision could refer to minor profits before sustained potential.
Does a top high on the horizon?
On the graphics, there seemed to be a possibility of rebound at higher levels, because WIF resulted in a level of key support at $ 0.69. This sparked a notable rise upwards, the crypto trading at $ 0.74 at the time of the press.
Source: tradingView
This upward movement aligned with the relative force index (RSI), with the same in the occurrence region. As he was on the rise, this indicated that the purchase is already occurring on the market.
The surveillance region generally signals the exhaustion of sellers and the domination of buyers. If WIF continues to look higher and leave this area, this would confirm a renewal of purchasing activity. This will open the land so that WIF establishs higher highs.
