World Liberty Monetary (WLFI) worth fell 3% on Saturday, October 4, hitting $0.20 whereas the broader crypto market turned larger. The downturn got here simply hours after WLFI introduced a treasury token sale to Trump-backed Hut8.
In accordance to the venture group, Hut8 bought WLFI tokens straight from treasury reserves at a negotiated charge of $0.25. WLFI clarified that the tokens offered had been “locked” reserves and never recent issuance, stressing that there was no dilution.
Nonetheless, the market response turned damaging, with group members questioning why Hut8 would purchase tokens at $0.25 when the market worth traded close to $0.20. Others raised considerations about how “locked” reserves may very well be offloaded with out readability on the phrases of unlocking.
CoinMarketCap knowledge confirmed WLFI buying and selling volumes rose 4% on Saturday, at the same time as the value slipped 3%. This implies the energetic sell-offs from present WLFI holders outpacing new demand, reinforcing bearish sentiment across the treasury deal.
On the each day chart, the WLFI worth is buying and selling beneath all key short-term shifting averages, together with the 5-day SMA ($0.2023), the 8-day SMA ($0.2050), and the 13-day SMA ($0.2038).
The triple-SMA cluster now types key resistance zones, with sellers repeatedly defending the $0.2050 ceiling over the previous week.
The Relative Energy Index (RSI) is available in at 44.46, confirming subdued shopping for stress. Except RSI breaks above 50, WLFI may wrestle to generate upward momentum.
Quantity evaluation additionally exhibits Saturday’s candle was accompanied by 51.6M WLFI traded on Binance, displaying important sell-side stress.
If WLFI bulls handle to clear the $0.2050 resistance cluster, the following upside goal lies at $0.2150. Conversely, failure to maintain the present $0.20 help may speed up losses towards $0.1950 final examined in late September.
In abstract, the WLFI worth outlook leans cautiously bearish because it struggles below triple SMA resistance and a weak RSI. Bulls want a breakout above $0.2050 to regain footing; in any other case, rising volumes on WLFI sell-candles may drag costs to September lows.
Learn authentic story WLFI Price Slides Amid Treasury Sales to Trump-Backed Hut8 by Ibrahim Ajibade at Coinspeaker.com
