WBT hit three ATHs in a month - is $78 the real test now?

[kaankaya]

I came across Crypto Andy’s WBT analysis on TradingView and checked the chart. He has $78 as the main support and $84 as the next resistance.
WBT has already made three new ATHs in about a month, so I think the $78 area is more interesting right now. I’d rather see how price reacts there before thinking about another move higher.

If $78 holds, another move toward $84 makes sense. If it doesn’t, I’d watch $71 next. After the run WBT has had this month, I wouldn’t be surprised to see it spend some time around these levels first.

Here’s the analysis I’m referring to:
https://www.tradingview.com/chart/WBTUSDT/YhiUY5eZ-WBT-s-Next-Move-78-Support-or-84-Breakout/

Curious what others think about $78 here. Would you wait for that level or only consider WBT after a break above $84?

[$crypto$]

I will not be observing at a specific price level because it is not the intention to buy the tokens of this exchange, just like the OKB which rose drastically due to the developments they have published to the media.

The trigger for this increase are several things that I read according to the article.

Burning tokens that are routinely 33% of trading fee revenue funds, users can get discounts and high APY staking.
Whitebit will relaunch Whitechain L2 OP Stack-Based, they target users themselves it's not about speed but even distribution.

This is probably the reason why WBT tokens go up to ATH because some of them are good at making users confident in the infrastructure they are building.

https://www.theblock.co/press-releases/whitechain-relaunches-as-w-groups-distribution-first-ethereum-layer-2-412097
https://u.today/whitebit-celebrates-wbt-all-time-high-milestone-amid-whitechain-relaunch-w-group-expansion
https://x.com/Whitechain_io

[kaankaya]

I will not be observing at a specific price level because it is not the intention to buy the tokens of this exchange, just like the OKB which rose drastically due to the developments they have published to the media.

The trigger for this increase are several things that I read according to the article.

Burning tokens that are routinely 33% of trading fee revenue funds, users can get discounts and high APY staking.
Whitebit will relaunch Whitechain L2 OP Stack-Based, they target users themselves it's not about speed but even distribution.

This is probably the reason why WBT tokens go up to ATH because some of them are good at making users confident in the infrastructure they are building.

https://www.theblock.co/press-releases/whitechain-relaunches-as-w-groups-distribution-first-ethereum-layer-2-412097
https://[Suspicious link removed]day/whitebit-celebrates-wbt-all-time-high-milestone-amid-whitechain-relaunch-w-group-expansion
https://x.com/Whitechain_io

Yeah, I get your point. If you’re not looking to buy WBT, then $78 or $84 probably doesn’t matter that much on its own.

The burn and the Whitechain stuff may help explain why people are paying more attention to WBT now. I just wouldn’t connect every ATH directly to those updates, because price can move much faster than the actual fundamentals. Because of that I’d still watch both the news around the project and how price behaves after.

[asriloni]

Curious what others think about $78 here. Would you wait for that level or only consider WBT after a break above $84?

We're surpassing $78, and it's going higher. However, it seems $83 becomes WBT's next resistance because i see some rejections happened in this range. It's most likely a small correction will occer before another pump to break $83's resistance.

The rela test is around $83. Hence, it takes some time and patience is the key here. WBT is in the "only Up" mode. Disappointed to miss. this hidden gem. Never thought WBT will be this high because its exchange site performance is not that good.