Is This a Bullish Play or a Short-Term Bounce?

• World Liberty Financial trades at $0.17 after a 5% gain. 
• WLFI’s daily trading volume has reached $99.23 million.

At press time, both red and green charts were visible in the market. Some of the crypto tokens are losing momentum, and the rest are seeking to run out of the red zone. Meanwhile, World Liberty Financial (WLFI) has turned the market tide by posting a steady 5.25% gain in value over the last 24 hours. 

WLFI chose to trade on the downside, at a low of $0.1698 in the morning hours, and the gradual bullish shift pushed the asset’s price up to a high level of $0.1802. At the time of writing, World Liberty Financial trades at $0.1796, with its daily trading volume having dropped to the $99.23 million zone.

The recent price action of World Liberty Financial shows bullish pressure, and its price might move up and test the resistance at around $0.1810. Assuming the current gains amplify, it could trigger the golden cross to take place, and the price would go above the $0.1824 mark.

On the flip side, with a bearish shift, the World Liberty Financial price may retrace towards the $0.1782 support level. Further correction on the downside would strengthen the bears and potentially invite the death cross to unfold. This could push the asset’s price below $0.1768. 

Momentum Building: World Liberty Financial Eyes Uptrend

World Liberty Financial’s Moving Average Convergence Divergence (MACD) line is above the signal line, indicating that the bullish momentum is building. The recent price gains are stronger, and the upward movement may continue. In addition, the Chaikin Money Flow (CMF) indicator of WLFI is settled at 0.06, suggesting mild buying pressure. The capital is flowing mildly into the asset, showing early accumulation. It could gain traction if the value continues to rise.

Moreover, the ongoing market sentiment of WLFI is bullish, with the daily Relative Strength Index (RSI) value at 65.61. It may approach the overbought territory, and the trend still has enough room to run. If it pushes closer to 70, the market may show signs of consolidation.

The Bull Bear Power (BBP) reading of World Liberty Financial at 0.0107 implies the presence of bullish dominance in the market, but the momentum is weak and not decisive yet. The price action is strong, though it needs a higher reading to likely confirm a stronger upside move.

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