WHITE has re-entered a previously tested accumulation zone near $735.84M market cap, suggesting a key support test.
The price is trading between a tight range of $48.87 support and $49.62 resistance, with reduced short-term volatility.
Past rallies originated from this zone, aligning with historical periods of elevated market activity and volume.
The market cap of $WHITE has re-entered a familiar accumulation range, as shown in the recent 4-hour Uniswap chart. The asset now sits around $735.84 million, slightly down by 0.22%. This level aligns closely with a previous price consolidation area, which acted as a base before the sharp surge in early June.
https://twitter.com/AltcoinBale/status/1936326778986926457
Historically, price stability within this zone has coincided with increased volume and market activity. Over the last few days, the token’s pullback has decelerated as it approaches this previously tested support. This movement comes amid a broader context of declining volatility, with no immediate signs of a breakdown below current levels.
Price Stability at Historical Support
Currently, the $WHITE market cap is fluctuating just above $735 million. This range has historically functioned as an accumulation zone between April and late May. Notably, the token previously launched into a steep uptrend after consolidating at this level. That rally took the market cap past the $2.4 billion mark. The latest retest of this level follows a sharp retracement from the June highs, and the token now hovers near the $737 million zone. The red-highlighted range on the chart suggests this is a structurally significant support area for traders.
Resistance Level and Short-Term Volatility
Short-term resistance is currently defined around the $49.62 level. The current price of WBT stands at $49.00, with a slight 1.3% decline over the last 24 hours. Volume data indicates minor fluctuations, with 968 trades recorded in the same window.
On the downside, the nearest support is $48.87, marking a narrow consolidation band between key technical levels. Transitioning above resistance would require sustained buyer momentum, which remains uncertain in the near term.
Range Re-Entry Signals Key Market Reaction
Reclaiming this previously tested zone adds technical importance to the price action. Notably, past recoveries from similar setups aligned with increased transaction activity. The recent price retreat into the support range may reflect strategic positioning by market participants. Continued defense of this zone could set the tone for further reaction from traders. As the market reacts, price movement within this range remains pivotal.
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