Wormhole (W) bullish fractal mirrors Ethena's breakout 79% gain possible on confirmation

Wormhole (W) faces renewed scrutiny as a potential bullish fractal pattern emerges on its daily chart, drawing comparisons to Ethena (ENA)’s recent breakout. Following a 4% dip on July 29, 2025, which reduced its monthly gains to 13%, the token’s technical structure suggests a possible reversal. The fractal, identified by CoinMarketCap, mirrors ENA’s pre-breakout configuration, where the latter surged 90% after escaping a falling wedge and reclaiming key moving averages [1]. Wormhole has already reclaimed its 100-day moving average and is nearing a critical resistance level, raising speculation about a similar trajectory.

Technical analysts highlight parallels between Wormhole’s chart and ENA’s explosive rally. A confirmation of the fractal would require a breakout above the wedge’s resistance trendline and a reclamation of the 200-day moving average near $0.1127. If successful, this could open the path to $0.1470, representing a 79% increase from current levels [1]. However, a failure to hold above the 100-day moving average could invalidate the bullish case, leading to further declines.

Recent price action adds nuance to the narrative. Data from stoone.co.kr on July 27 shows Wormhole (KRW-W) gaining 1.04% to 116.4, aligning with a short-term upward trend [2]. While this uptick is modest, it reinforces the token’s inclusion in a list of “bullish” cryptocurrencies on onebitco.com’s July 27 report, signaling growing market optimism [3]. Bart’s Charts – Advanced Pattern Recognition further notes that the monthly chart suggests the asset is approaching a historical resistance level that could act as support, potentially marking the end of a downtrend [1].

Despite these technical cues, the analysis remains cautious. No specific price targets or projected returns are provided, and macroeconomic or regulatory factors are not addressed. The 1.04% gain as of July 27 reflects short-term optimism but does not confirm a long-term reversal. Investors are advised to monitor the fractal’s evolution and whether price action aligns with the projected breakout scenario.

The convergence of fractal patterns and immediate price movements underscores Wormhole’s strategic positioning in the current market cycle. While the bullish case hinges on technical validation, the absence of institutional forecasts or quantitative metrics means the outlook remains speculative. Market participants should balance technical signals with broader risk assessments, as volatility remains a persistent feature in cryptocurrency trading.

Sources:

[1] Coinmarketcap. https://coinmarketcap.com/community/articles/6888b0f7441af60528c98bf4/

[2] 마켓 - 스토원 - STO, 코인일정, 암호화페, 코인뉴스 커뮤니티. http://www.stoone.co.kr/app/market/

[3] News - OneBitco. https://onebitco.com/press