[Test Article, Breaking News] WIF Confronts Persistent Selling Pressure Amidst Range-Constrained Volatility

WIF-USD demonstrated considerable volatility throughout the 24-hour trading period from 16 July 18:00 to 17 July 17:00, oscillating within a comprehensive range of $0.09, representing 8.47 per cent between its absolute peak of $1.137 and trough of $1.043. The digital asset exhibited quintessential range-bound characteristics with numerous unsuccessful breakout endeavours, establishing formidable resistance circa $1.134 where valuations consistently retreated, whilst discovering support proximate to $1.043-$1.053 levels during nocturnal trading sessions. Significant volume surges materialised during the 01:00 hour with 33.43 million units coinciding with a precipitous decline to $1.053, and subsequently at 09:00 with 31.23 million units during a transient recovery to $1.109, both substantially exceeding the 24-hour volume average of 17.26 million and corroborating high-volume resistance and support territories respectively.

Throughout the concluding 60 minutes from 17 July 16:11 to 17:10, WIF encountered extraordinary volatility with an acute capitulation episode between 16:28-16:32 whereby valuations plummeted from $1.063 to $1.048, constituting a 1.41 per cent decline accompanied by exceptional volume spikes of 2.17 million and 2.08 million units respectively, before orchestrating a recovery that established the $1.058-$1.059 range as the nascent equilibrium level. The session concluded with WIF stabilising around $1.059, suggesting the selling pressure had been adequately absorbed and a potential base formation was emerging following the earlier liquidation.