Date: Tue, July 29, 2025 | 11:15 AM GMT
The cryptocurrency market is undergoing a mild pullback after Ethereum (ETH) tested its multi-year resistance near $3,940 before slipping back to around $3,835. This retracement has weighed on several altcoins, with Wormhole (W) dipping 4% today, trimming its monthly gains to 13%.
Despite today’s decline, Wormhole is showing signs of a potential bullish reversal. A fractal pattern is emerging on its daily chart, one that closely mirrors the explosive breakout structure recently seen in Ethena (ENA).
Wormhole Mirrors ENA’s Breakout Setup
A comparison of Wormhole and ENA’s daily charts highlights a strikingly similar price trajectory. ENA recently broke out of a textbook falling wedge, reclaimed its 100-day and 200-day moving averages, and went on to surge 90% to the upside, hitting highs near $0.70.
Now, Wormhole appears to be tracing the same path.
The token has already reclaimed its 100-day moving average and is approaching a breakout from its own falling wedge’s resistance trendline, similar to ENA’s setup prior to its sharp rally.
What’s Next for Wormhole?
However, to sustain this bullish trajectory, Wormhole must hold above its 100-day moving average. A decisive drop below this level could invalidate the bullish setup and potentially lead to further downside.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
