$WLD
Widespread Unbinding Triggers Mass Selling Pressure
Recently, $WLD has witnessed significant and linear unbinding operations, with over a million pieces released daily, leading to a concentration of selling pressure in the market. Technically, WLD closed on August 12 near 1.0593, and rose the next day to a monthly high of 1.1404 per large supply flow after the opening, which quickly led to a price decline, creating a low on August 14 at 0.9983 with a daily drop exceeding 12% and an increase in trading volume by approximately 20% compared to the previous day, indicating weak buying capacity to absorb the pressure. Short-term resistance is concentrated between 1.10 and 1.14, while support has moved to the 1.00 level.
Whale Selling Exacerbates Market Volatility
On August 14, a new single wallet withdrew 1.41 million from WLD, equivalent to 1.55 million USD in market value, sending a clear sell signal. On this day, the price of WLD rapidly dropped from 1.1359 to 0.9795, with a daily fluctuation exceeding 13%, and trading volume rose to 12.46 million, indicating that short-term market sentiment was inflated by the actions of whales, with sellers taking the helm under selling pressure at higher levels, increasing price volatility.