Bittime - Wormhole (W) is one of the newcomers that is attracting attention. Wormhole recently launched its token and is successfully building a loyal community that is just getting rewarded. This article will discuss the potential of W and its price predictions from 2024 to 2040.
What is a Wormhole (W)?
Wormhole is a project designed to support multichain applications. More than just that, Wormhole gives developers access to liquidity. Users from more than 20 blockchains can participate in governance, DeFi trading , and NFT ownership using this network.
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Big companies like Uniswap and stablecoin issuer Circle trust Wormhole. The platform has helped facilitate billions of dollars worth of cross-chain transactions.
What is the Current Condition of the Wormhole (W)?
At the time of writing, Wormhole's price is around $0.55 (Rp. 8,800), down 61% since launch. This price decrease may be related to profit taking from eligible W airdrop recipients.
In line with the price, the trading volume of this crypto also fell. Currently, W's 24-hour trading volume has decreased 3.66% to $988.3 million (Rp. 15.88 trillion). W's market capitalization, on the other hand, is $111.4 million (Rp. 1.7 trillion) and is ranked 85th according to CoinMarketCap.
Also read: 5 Main Reasons Wormhole Prices ($W) Dropped to 29%
For supply, the data shows that W has a total and maximum supply of 10 billion tokens. However, only 1.8 billion are currently in circulation. W is available on many exchanges including Binance, OKEx, Gate.io, and Bybit. You can also find this token on other exchanges besides these four exchanges.
Wormhole Price Analysis (W)
Predicting W's movement is challenging because this token was only launched a few days ago. However, this does not mean that technical indicators cannot identify certain trends that the token may display.
Therefore, this article will provide an in-depth analysis of W's short-term price movements. Additionally, you will also learn about price predictions from 2024 to 2030.
Wormhole (W) Price Analysis - Bollinger Bands
Bollinger Bands (BB) on the W/USD 1 hour timeframe indicate that volatility around the token is starting to increase. Previously, the Bollinger Bands narrowed.
However, the recent band expansion suggests that W may have to face significant price fluctuations in the coming days.
From a bullish perspective, the price of W may reach $1.23 (Rp 19,680). Conversely, a bearish forecast puts the price at $0.91 (Rp 14,560).
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Wormhole (W) Price Analysis - Relative Strength Index (RSI)
Indications from the Relative Strength Index (RSI) show that W was oversold on April 4 as the figure fell below 30.00. But at the time of writing, it seems that bullish investors have rescued this token as the RSI numbers are increasing.
However, momentum is not completely bullish because it is still below the neutral area. If buying pressure increases, then bullish investors may completely control the momentum and W price may recover.
Also read: Dropped 50% in a Week: What Happened to Wormhole (W) Price?
Wormhole (W) Price Analysis - Moving Average Convergence Divergence (MACD)
The 30-minute chart shows that the Moving Average Convergence Divergence (MACD) is positive. However, both the short-term and long-term EMAs are below the midpoint of zero, indicating that W has not yet escaped the pressure of bearish investors.
Wormhole (W) Price Prediction - Resistance and Support Levels
On April 3, W experienced rejection when trying to reach $1.60 (Rp. 25,600). As a result, the price fell to $0.95 (Rp. 15,200).
However, bullish investors see this point as an ideal area to build support. Although this action has not yet produced significant results, W is unlikely to fall below $0.90 (Rp. 14,400).
On the upside, the token may face resistance at $1.24 (Rp 19,840) if the price moves upwards. If it is successfully broken through, the price could soar to $1.80 (Rp. 28,800). But it will depend on the resistance at $1.59 (Rp 25,440). Failure to break overhead resistance could send W back below $1 (Rp 16,000).
Wormhole (W) Price Prediction 2024
According to the 1 hour chart, W has formed a descending channel, indicating high selling pressure. However, a decline in selling interest is likely to occur soon and sellers' momentum could weaken.
If this happens, W will probably break out and form a bullish flag pattern. If so and buying pressure increases, the token price could rise towards $1.80 (Rp. 28,800) in the short term.
Looking at the Awesome Oscillator (AO), the number is negative. However, the presence of green bars on the indicator indicates a potential price increase in the near future. For 2024, the price of W is expected to recover from its low point, and by the end of the year, it could rise to $3.85 (Rp. 61,600).
Wormhole (W) Price Prediction 2025
By 2025, Wormhole is predicted to be one of the top 50 projects. If so, the token price may increase and possibly reach $4.50 (Rp. 72,000).
Wormhole (W) Price Prediction 2026
Wormhole has built a loyal community since the Testnet stage. At the moment, it seems that the community will not abandon this project. If this is the case, there could be a spike in W adoption in 2025 which could put the price prediction at $6.45 (Rp 103,200) in 2026.
Wormhole (W) Price Prediction 2027
By 2027, W price may slow down its bullish trajectory. However, this does not mean that it will fall below the 2024 value. Therefore, the price prediction for 2027 could reach $2.80 (Rp. 44,800).
Wormhole (W) Price Prediction 2028
2028 is projected to be a bullish year for the crypto ecosystem as a whole. As a result, the price of tokens like W may soar. Therefore, the price could reach $8 (Rp. 128,000) in 2028.
Wormhole (W) Price Prediction 2029
By 2029, blockchains interacting with Wormholes may have surpassed the current number. Therefore, the number of new addresses purchasing W may increase. This puts the price prediction at $10.50 (Rp. 168,000).
Wormhole (W) Price Prediction 2030
By 2030, the price of W could soar very high. Several factors could be driving this increase, including an increase in the volume of bridged tokens on the network and capital inflows. Thus, the price could reach $11.87 (Rp. 189,920) in 2030.
Wormhole (W) Price Prediction 2040
The price of W is predicted to remain in the double digit range in 2040. Although there may be a correction towards that year, it is predicted that the value could reach $14.39 (Rp. 229,440).
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Conclusion
Overall, Wormhole seems to be a project that will attract a lot of users despite its recent price drop. As mentioned previously, this token is still in the price discovery stage.
Once the selling pressure subsides, buyers and sellers will determine a certain trend for the token. In the long term, the price of W can soar, but to profit from its rise, you need to find the right entry point.
Please remember that these price predictions are only based on analysis and speculation. Actual prices may differ significantly. Before investing in Wormhole or any other cryptocurrency, it is important to do your own research and understand the risks involved.
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime.
Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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IDR 12 Trillion Wormhole Airdrop: Euphoria amidst the Dangers of Cyber Fraud
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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