Bitcoin’s price fell below $68,000 following comments from U.S. President Donald Trump, triggering losses across the altcoin market. Despite this downturn, World Liberty Financial (WLFI) showed relative strength with a 2% gain. Technical analysis indicates its longer-term trend remains bearish, with a key resistance zone between $0.095 and $0.10 currently being tested.
The crypto markets were deeply affected by U.S. President Donald Trump’s comments over the weekend. On Saturday, March 21, Bitcoin plunged below the $68,000 level after spending nearly two weeks above it.
As a result, the altcoin market also faced losses. Select altcoins showed notable relative strength against the market, and World Liberty Financial was one of them.
In the past 24 hours, it has gained 2% in value while BTC dropped by 3.22%. The price action on the 1-day chart was severely bearish despite the past three days’ gains.
The $0.095-$0.10 support, which WLFI has traded above since February, was breached on Thursday, March 19. At the time of writing, this supply zone was being retested as resistance.
Volume indicators were unanimously bearish. The OBV and the A/D maintained their downtrend to show that selling pressure remained prevalent.
The CMF was below -0.05 to suggest capital outflows were dominant. The demand was fleeting and simply not enough to reverse the downtrend in play.
The World Liberty Financial token reached the 23.6% extension level at $0.0885 on Friday, March 20. The RSI on the H4 chart recovered to neutral 50 and is poised to fall lower alongside the price.
The importance of the $0.095-$0.10 supply zone has already been highlighted. Traders can be prepared for a rejection from this area and a bearish continuation.
Bitcoin was trading at a key support and could see a price bounce back above $70,000. This can give altcoins some short-term strength and can spur WLFI to climb above $0.10.
Traders should remember the bearish swing structure of the altcoin. A break of $0.107 is needed to flip the H4 structure bullishly.
