WLFI of World Liberty Financial, a Token linked to the president of the United States, Donald Trump, has fallen 7% during the past week, indicating a growing bearish pressure in the market.
The data of the spot and derivative markets suggest an interest of the waning merchants, which increases the concerns that the Token could visit its historical minimum of $ 0.16.
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WLFI BEARS TIME THE GRADE
An evaluation of the four -hour table WLFI/USD has revealed a constant decrease in the Chaikin (CMF) money flow of the Token. This key moment indicator is below the zero line at -0.13, and is in a downward trend from this writing.
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The CMF indicator measures the purchase and sale pressure by combining price and volume data. A positive CMF reading indicates a strong purchase and accumulation activity, while a negative value indicates pressure and sale distribution.
The negative and downward CMF of WLFI suggests that sellers currently dominate the market. This reflects a weak demand and reinforces the risk of a greater fall towards its minimum of all time.
In addition, its open interest of futures has constantly decreased, confirming the broader negative feeling in the market. At the time of publication, it was $ 802.84 million, falling 5% on the last day.
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The open interest refers to the total number of contracts of futures pending that have not been resolved, serving as an indicator of liquidity and participation of the merchant in the derivative market.
The increase in the open interest of futures reflects the growing interest and conviction in the direction of the price of a file, while a decrease indicates that merchants are closing positions and withdrawing capital.
In the case of WLFI, the fall in open interest indicates the confidence that fades, since market participants are coming out of operations instead of opening new.
WLFI under pressure: $ 0.16 or a rally above $ 0.22?
With the demand that shows little improvement, WLFI faces a growing risk of additional losses. If the sale continues, the Token could visit its historical minimum of $ 0.16, and charge lower if the outputs are strengthened.
However, if a new demand enters the market, the value of the Altcoin could increase above $ 0.22.
