WINK has rejected the monthly bearish fair value gap, indicating possible continuation lower.
Price is currently within a 1D FVG but lacks strong upside momentum.
The next significant support lies near the weekly bullish order block at $0.00004842.
WINK (WIN/USDT) appears to be entering a corrective phase after showing clear rejection from a key technical level, the monthly bearish fair value gap (FVG). The asset's current price action suggests weakening bullish momentum as it struggles to maintain gains, with the price recently retracing to $0.01971 at the time of analysis. This movement follows a broader rejection from the higher resistance range, signaling a likely shift in market sentiment. As a result, analysts are now observing the potential for further downside pressure toward a lower support region.
Bearish Momentum Gathers After Fair Value Gap Reaction
The most recent price action shows WINK being rejected after testing the monthly bearish FVG near the $0.00005600 mark. This area acted as a ceiling for bullish attempts, pushing price back into the 1D fair value gap. While temporary support exists within this lower zone, the lack of follow-through suggests that bears are beginning to take control. This shift aligns with previous resistance patterns seen in April and May.
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Weekly Bullish Order Block Eyed at $0.00004842
The next technical support lies in the form of a weekly bullish order block at approximately $0.00004842. Historically, this level has held during high-volume corrections, acting as a base for short-term reversals. Given the current structure and market rejection signals, the probability of a move toward this support zone has increased. Should the price reach this level, market participants will be watching for possible accumulation or further breakdown.
Weak Buyer Momentum Points to Potential Decline
The 1D structure reveals limited buyer activity despite the temporary bounce within the daily FVG. When the market slows down and movement across many assets fades, it becomes more likely that prices could fall further.
Experts suggest monitoring the market around $0.00004842 to notice if the price becomes steady or falls again. As for now, indicators are mostly suggesting the price can still go lower, primarily because there are no bullish factors.
The post WINK Rejected at $0.00005600, Eyes $0.00004842 Support Amid Bearish Shift appears on Coin Futura. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.
