- Wormhole (W) forms a bullish inverse head & shoulders with neckline at $0.107–$0.117.
- Breakout above $0.117 could trigger a 55.4% rally toward $0.186.
- Setup remains valid while daily closes hold above the $0.07 support zone.
Wormhole (W) is gaining bullish momentum, jumping 6.46% in the last 24 hours to trade at $0.1194. With a key breakout level at $0.117 now under pressure, traders are watching closely as a classic reversal pattern signals a potential trend shift.
Inverse Head & Shoulders Points to Bullish Breakout
After months of consolidation, Wormhole (W) has formed a well-defined inverse head and shoulders pattern, signaling a potential trend reversal. The structure shows a left shoulder near $0.075, a head down at $0.065, and a right shoulder around the same $0.075 level.
The neckline—mapped between $0.107 and $0.117—has acted as a significant resistance zone, where the price faced repeated rejections. However, recent price action shows W/USDT trading around $0.1098, slightly under the neckline, suggesting a retest is underway following a brief breakout attempt.
According to CryptoPulse’s analysis on X (formerly Twitter), the projected breakout target sits at $0.186. This figure comes from the measured move technique, calculated by adding the depth from the head to the neckline above the breakout point—representing a potential 55.40% gain.
Volume is the key player here. Traders are eyeing a strong push above $0.117—but it needs real volume to count. Without it, the move risks being a fakeout. The bullish setup stays alive above $0.07, but slipping below that could flip the script and reopen downside pressure.
Short-Term Rally Meets Long-Term Resistance
Despite the recent bullish momentum, Wormhole (W) still faces a tough uphill battle against a long-term downtrend. Trading at $0.11757 with a 4.04% gain in the past 24 hours, the token has surged nearly 50% in the last month—signaling a possible shift in market sentiment.
Yet, it remains deeply underwater, down 65.72% over the past year and over 90% from its all-time high, making the $0.117 breakout level a crucial threshold both technically and psychologically. On the bright side, trading volumes are picking up, with futures hitting $179 million and spot volume reaching $28 million.
Open interest sits at $100 million, showing growing speculative interest, while exchanges like OKX and MEXC report volume increases of 53% and 8%, respectively.
On shorter timeframes, W/USDT is showing promising signs.If the price can break cleanly above $0.117 with strong volume, it could spark the next big move higher.
