Wormhole’s $W Token Shows Signs of Trend Reversal After 97% Decline

Wormhole’s native token, $W, has shown signs of a potential trend reversal after experiencing a significant correction. The token has seen a steep decline from its early April 2024 peak of 0.00000900 BTC to a mid-June 2025 low of 0.00000027 BTC. This decline was marked by reduced trading volume and waning interest. However, recent technical indicators and structural patterns suggest that $W may be entering a phase of accumulation and bottoming.

On the 3-Day chart, $W/BTC has exhibited bullish divergences across multiple timeframes, which are often early indicators of a trend reversal. The Relative Strength Index (RSI) on the 3-Day timeframe shows a bullish divergence, where the price continues to fall while the RSI begins to trend higher. This mismatch between momentum and price action is a common signal of an impending trend shift. Additionally, similar bullish divergences are observed on the Weekly and Daily timeframes, adding further credibility to the reversal thesis.

Despite the price correction, Wormhole’s adoption remains robust. Major institutions have integrated Wormhole for cross-chain bridging, and Solana’s adoption of the protocol has boosted on-chain activity and volume. The recent activation of fee switches by Wormhole is expected to improve long-term protocol revenue, providing a bullish counterbalance to the recent price weakness. These fundamentals support the long-term value and cross-chain relevance of $W, suggesting that the token may be entering a potential accumulation and bottoming phase.

Recent market behavior also supports the idea of an accumulation phase. Candlesticks display tighter ranges and increased volume near the lows, which often precede bullish reversals after long downtrends. The price flattening and volume stability indicate that a bottoming procedure is happening on the asset. However, confirmation of this reversal is still needed. A breakout or spike in volume would solidify the reversal thesis. Until then, investors remain cautious but hopeful, as Wormhole’s fundamentals continue to improve despite short-term price pain. The long-term strength of the protocol supports the case for a sustained recovery once momentum shifts.