According to Crypto Rover, Wormhole (W) is demonstrating a bullish W pattern on its price chart, indicating a potential upward move. He highlights that Wormhole's strong fundamentals, including cross-chain interoperability and robust ecosystem growth, support a favorable trading outlook for altcoin traders. The current technical formation, combined with increasing developer adoption and on-chain activity, suggests that $W could experience a notable price rally in the short term. Traders are advised to monitor breakout levels for optimal entry, as verified by Crypto Rover on Twitter (source: Crypto Rover, Twitter, May 9, 2025).

According to CrypNuevo, the W pattern for Bitcoin has played out, allowing for futures trading with easy invalidation below the lows. However, it is premature to assert a bullish momentum since Bitcoin remains below the main resistance level of $91.5k and is experiencing choppy consolidation between the 1D50EMA and 1W50EMA. This suggests caution as the market lacks clear bullish signals above these critical resistance levels.

According to CrypNuevo, there is a potential scenario in the cryptocurrency market where the CME gap that occurred over the weekend might be filled. This is a common occurrence, although it does not need to happen immediately. Traders should monitor the market for a reaction after the wick fill, which could lead to the formation of a W pattern, a bullish indicator. This information is relevant for traders looking to identify potential entry points and market movements. Source: CrypNuevo.