Currently, as the main player Bitcoin has dropped below the 110K mark, almost all altcoins are also showing significant impacts. In the case of the $WAL token, it is relatively well maintaining its current position at 0.38. The @WalrusProtocol has fallen about 8 cents from its peak of 0.46 over the past month, and it is approximately 50% down from the high of 0.72 in May, but it is observed that it is still holding the 0.38 level relatively well. In terms of trading volume among DEXs, @momentum Bluefin ranks third behind its two main pairings. The most active pairing is Wal/USDC, and a similar volume is seen with the Wal/SUI pairing, but in the case of Momentum, the SUI pairing currently shows significantly higher volume. The importance of this volume movement is that for those providing LP, unless the exchange offers additional rewards, most of the fees are determined by trading volume. Therefore, from a long-term perspective, the liquidity concentration of DEXs with high trading...
Watching $WAL here around 0.38, feels like a key spot.
If it can hold this range and push back over 0.40, we could see 0.42–0.44 next.
But if 0.38 gives way, then 0.36 is on the table.
RSI still has room, MACD looks close to flipping, and with all the ecosystem news (Pipe, Baselight, FLock), it feels more like Walrus is in accumulation than capitulation.
Sometimes the quiet zones are where the real moves start.
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