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- 1 WEWE price signifies a drop and has retested the $0.000000400 mark.
- 2 Buyers are attempting a pullback and aim to cross the $0.000000500 shortly.
The WEWE token price made a double bottom pattern and retested the demand zone of $0.0000002500 in the last few sessions. Moreover, the token has slipped below the key support zone of $0.0000004200 and breached the crucial 200 day EMA mark, revealing a negative outlook. Recently, the token met a sharp rejection from the resistance mark of $0.000000800 and eroded over 65% of gains in the past two weeks. However, the token has not yet breached the demand zone and could rebound.
At press time, the WEWE token (WEWE) price was trading at $0.0000003902 with an intraday gain of 0.07%, reflecting neutrality on the chart. It has a negative monthly return ratio of 64.90% and 89.24% on a yearly basis. The pair of WEWE/BTC is at 0.00000000000619 BTC, and the market cap is $172,715. Analysts are neutral and suggest that the WEWE token price may attain a bounce and will retain the upside mark of $0.0000004500 soon.
WEWE Token Technical Analysis On Daily Charts
On the daily charts, the WEWE price has retested the prompt support zone of $0.0000002500 and bulls are engaged in making a base formation in the last sessions. However, the technicals are suggesting a bounce and there is no any significant breakdown anticipated ahead. Amidst the market downturn, the token did not witness any significant trend reversal and the token glimpsed neutrality on the charts.
The relative strength index (RSI) curve stayed below the midline, noted around 38, forming a negative crossover on the charts. Per the Fib levels, the token has breached the 38.2% support zone and is hovering near the 23.6% support zone.
Per the technicals, the trend is neutral and the token may attain gains and will retain the neutral trajectory.However, the token trades below the key moving averages signifying a retracement in the past sessions. Until the downtrend zone of $0.0000003000 is not breached again, the trend will remain intact and the buyers will soon replicate a rebound.
The total supply of the WEWE token is 420.69 billion, whereas the volume-to-market cap ratio is 0.00104, whereas, it is ranked 6464 per the market cap in the global crypto market.
Summary
The WEWE token price hovers near the support zone of $0.0000003900 mark, and is expected to bounce. The trend is neutral and a double bottom pattern was noted, which may have trapped the sellers, and a sharp bounce will be glimpsed on the charts soon.
Technical Levels
Support Levels: $0.0000003700 and $0.0000003400
Resistance Levels: $0.0000004100 and $0.0000004300
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
