## The Current State of WAL: Consolidation or Accumulation?

WAL is currently priced at $0.1587, up 22% this month. But looking at recent trends, it's clear that it's undergoing technical adjustment. The 99-day moving average supports at $0.1557, and the price is oscillating within a narrow range around the middle Bollinger Band at $0.1584, a typical consolidation pattern.

The RSI is at 49.28, almost at the midline. The MACD histogram shows slight positive momentum, with a value of 0.00022 indicating that the upward momentum still exists but isn't strong enough to push further. The 24-hour trading volume is $14.5 million, with retail investors net inflow of $16,900 per hour, indicating quiet capital accumulation.

## What Are the Whales Doing?

This is the key point. The long-short ratio has decreased from previous levels to 0.62, a 34% drop. Whales are reducing their holdings—21% of long positions have been cut, suggesting deleveraging. It may sound pessimistic, but don’t worry too much; the total holdings have actually increased by 21%, with new funds entering near support levels.

Remember these two price points: resistance at $0.1613 (whales are watching), and support at $0.1573 (market’s psychological line). Institutional sentiment has indeed become more cautious, but the market mood hasn't collapsed yet.

## Why Is It Still Worth Watching?

WAL is essentially the AI storage layer of the Sui ecosystem. Its utility is directly linked to protocol usage, offering unique programmability advantages in the decentralized storage sector. This isn’t an aircoin story; it’s infrastructure backed by real demand.

In the short term, an incentive campaign by a major exchange has created opportunities for participants, with over a million tokens in trading rewards circulating, which could spark some enthusiasm. Both long-term value and short-term opportunities are present—now it’s just a matter of whether it can break through the $0.1613 threshold.