Wormhole (W) Tests Range High as Breakout Momentum Strengthens Above Key Moving Averages

Wormhole (W) tests its $0.118 range high after six months of consolidation, forming a strong accumulation base supporting breakout strength.

The token flips both the 200-day EMA and SMA into support, marking a notable technical shift favoring sustained bullish continuation.

Trading at $0.1228, Wormhole shows rising momentum and steady demand, with potential upside targets between the $0.135 and $0.150 levels.

The Wormhole Token (W) is approaching a decisive technical juncture as price action challenges the upper boundary of its long-standing consolidation zone.

Wormhole Approaches Range High After Six-Month Consolidation

Wormhole (W) is currently testing its high range near $0.118 after trading within a wide consolidation zone for over six months. The range has been defined between $0.064 at the lower boundary and $0.118 at the upper limit, forming a consistent base of accumulation.

The token has demonstrated steady resilience in recent sessions, showing a recovery from mid-range levels supported by growing volume. This extended sideways movement has allowed the market to build stability, suggesting that participants are preparing for a possible directional shift.

According to Daan Crypto Trades, W has entered a crucial zone that could mark the end of its prolonged consolidation. He noted that the token “has flipped both the Daily 200MA/EMA,” adding that a break higher would “make for a really solid base” for continuation.

Technical Strength as W Flips 200-Day EMA and SMA Into Support

A notable technical development for Wormhole is the recent flip of the 200-day EMA and 200-day SMA into support. This crossover signals a transition in long-term momentum, favoring buyers and strengthening the bullish structure forming on the daily chart.

The market has also established a sequence of higher lows since July, suggesting growing demand at each dip. This pattern resembles an inverse head-and-shoulders formation, a common setup that often precedes upward continuation.

If price secures a decisive close above $0.118, it would confirm a breakout beyond the consolidation range. Such a move could invite stronger participation from market players seeking confirmation of trend expansion.

Potential Upside Targets and Key Support Levels

Should the bullish momentum persist, potential upside zones are projected between $0.135 and $0.150. These areas align with previous supply levels that could act as interim resistance during the next phase of the move.

Conversely, if the breakout attempt fails, traders are likely to monitor $0.105 and $0.085 as key support zones. These levels may provide structure for price to reset before attempting another upward move.

At the time of writing, Wormhole (W) trades at $0.1228, marking a 5.25% increase in 24 hours and a 19.00% rise over the past week. The steady volume and sustained higher lows reflect renewed confidence in W’s ongoing recovery trajectory.

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