WING Technical Analysis: Rising Trend Struggles To Surpass $7

WING prices showcase a bullish reversal struggling to surpass $7 after inflating the market by 150% last month. Will the uptrend surpass $7? Key technical points: The market price has increased 15.09% over the past 24 hours. The retracement rally takes support at the 50-day SMA. The 24-hour trading volume of Wing Finance is $20.37 Million, indicating a hike of 61.10%. Past Performance of WING WING prices have been in a rising trend over the last month but the supply pressure at $7 resists further growth. The supply dump at $7 dips the prices to the 50-day SMA and the support trendline. However, the buyers quickly reversed the trend with lower price rejection and challenges the 100-day SMA. Source- Tradingview WING Technical Analysis WING prices showcase a lack of bullish commitment in the bullish jump from the support trendline as the trading volume falls. Hence, traders must wait for the prices to surpass the $7 mark to avoid a reversal. The crucial SMAs – 50, 100, and 200-days maintain a bearish trend but the prices consolidate within 50 and 100-day SMA. Hence, the breakout of either of the SMAs will result in a high-momentum trend. The RSI slope shows a bullish trend in motion from the oversold boundary with the 14-period SMA providing support. The uptrend approaches the overbought boundary and increases the likelihood of bullish continuation. The MACD indicator shows the fast and slow line struggle to sustain the uptrend a...