WhiteBIT Coin Rallies 0.14% Despite Volatility

WhiteBIT Coin (WBT) is currently trading at $27.776, marking a slight daily increase of 0.14% from its close on Sunday. The coin has been fluctuating around the $27.75 mark for the past two weeks, following a break below the 50-day Exponential Moving Average (EMA) on April 1. Despite this downward trend, the price has shown resilience, rallying to $27.76 and touching its ascending trendline on the hourly chart.

On Monday, the WBT price approached key support levels at $26.20 after a reversal from resistance levels at $28.40. The coin has found support from its 50-day EMA, stabilizing around $27.75. If the bulls can sustain the selling pressure and test the support level at $27.00, it could indicate a potential bullish trend and recovery for the coin.

However, the price collapsed 0.32% in an hour on Monday, breaking below the 20-hour and 50-hour EMA. This downward movement suggests that the coin could face a reversal to its daily support level of $25.48, with a further drop to $24.03, the 200-day EMA, which acts as a lower support level.

On Saturday, the WBT price faced rejection at the 50-day EMA, which acts as resistance at $28.03, coinciding with the daily resistance level. If the WBT price breaks and closes above $28.02, it could extend the rally to the key psychological level of $30.00. A successful retest of this level could further extend the rally of the WhiteBIT Coin to test its all-time high price of $31.40, set on March 2.

The Relative Strength Index (RSI) on the daily chart is slightly below the neutral level of 50, at 46.06, indicating an indecisive move amongst traders. However, as the RSI moves above its neutral level, the market may sustain a bullish momentum, pushing the coin price higher.

Community sentiment on WBT remains bullish, with 86% of the community maintaining a bullish sentiment in the market and only 14% holding onto a bearish sentiment. The volumes have rallied over 30% in the past 24 hours, reaching nearly $30 million as of Monday, which could signify increased interest in the coin.