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- WLFI defended $0.11 support and surged to $0.15, up 13.87% on daily charts.
- Buyers and whales returned after CZ’s pardon, driving spot accumulation and higher volume.
- Buyers and whales returned after CZ’s pardon, driving spot accumulation and higher volume.
- Momentum indicators signal continuation potential but warn of short-term volatility.
World Liberty Finance (WLFI) surged to a local high of $0.15 after successfully defending its $0.11 support, signaling renewed investor confidence. At press time, WLFI was trading at $0.142, up 13.87% on daily charts, as trading volume spiked 141% to $412 million and market cap rose 13% to $3.7 billion.
Trump’s Pardon Sparks Bullish Sentiment
The rally comes after former President Donald Trump pardoned Changpeng Zhao (CZ), the founder of Binance. CZ had served four months in prison for violating the Bank Secrecy Act, while Binance paid over $4 billion in fines. With his record cleared, CZ may return to a leadership role at Binance, reigniting optimism among WLFI investors.
CZ had promoted WLFI during his pardon campaign, and the news has clearly influenced market behavior. Traders and whales returned to accumulate the token, driving both price and volume gains.
Buyers Return: Accumulation Signs Strength
On October 23, WLFI recorded $283.81 million in Buy Volume, slightly surpassing $281 million in Sell Volume, marking a positive delta of 2 million tokens. The buying trend continued the next day with 49.17 million tokens scooped up by investors.
Exchange data supports this bullish activity. CoinGlass reports a Spot Netflow of -$1.27 million, down from $2.24 million the previous day, indicating higher outflows and spot accumulation. Nansen data shows top holders shifted from net selling to net buying, adding 12.9 million tokens after previously offloading 144 million.
Momentum Points to Potential Upside
Momentum indicators support WLFI’s upward trajectory. Sequential Pattern Strength hit 9.8, reflecting buyer dominance, while the Stochastic RSI surged to 82, entering overbought territory. These levels suggest strong continuation potential but also hint at short-term volatility.
Also Read: Trump Family’s World Liberty Financial Burns 47 Million Tokens as WLFI Price Plummets
If buying pressure continues, WLFI could test $0.18, with a break above opening the path to $0.20. However, profit-taking could push prices back toward the $0.11 support level.
WLFI’s recent surge demonstrates how external catalysts, like CZ’s pardon, can rapidly shift investor sentiment. Strong accumulation by whales and positive momentum indicators indicate that the token may continue its upward trajectory, though volatility remains a key consideration.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
