- Whiterock saw a strong price gain even though the rest of the crypto market, including the RWA sector, posted losses.
- The rapid gains and heavy trading volume meant that the upward move could continue after a potential retracement.
Whiterock [WHITE] crypto has rallied 64% in the past 24 hours. The rally was borne by strong demand and the daily trading volume was up by 134%.
The real-world asset (RWA) token has gained 922% since the lows registered on the 23rd of February, bringing its market capitalization to $811 million.
Source: CoinMarketCap
he RWA market cap was in a downtrend over the past five weeks. In mid-February, it appeared to move higher but saw a quick drop a week later. The market-wide rally last Sunday included RWA assets, as seen on the mcap chart above, but all these gains have since been erased.
Meanwhile, Whiterock crypto was up nearly 300% since the 1st of March. The relative strength of this token suggested that it could go much higher.
What next for Whiterock crypto?
The price chart showed a strong uptrend. On the way higher, the $0.0006 and $0.0008 levels served as both support and resistance. They correspond to the 61.8% and 78.6% retracement levels for the recent rally.
Therefore, if WHITE continues to descend, it would likely halt its retracement at one of these two levels.
The bearish divergence between the price and the RSI momentum indicator supports this idea. The price made a higher high, while the RSI made a lower high.
If the OBV does not drop too much, it would indicate minimal selling volume during the retracement. The next 24–48 hours could be key to understanding whether the uptrend can continue or if Whiterock crypto would retrace below the $0.0006 support.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
