Wormhole [W] Surge: Sustainable Growth or Temporary Hype?

Wormhole [W] surged 11.45% after breaking out of a descending channel, reaching $0.35 with increased trading volume. Despite bullish momentum, overbought conditions and mixed on-chain signals suggest a potential short-term pullback. The key resistance at $0.38 will determine if the rally is sustainable. While Open Interest is rising, indicating trader confidence, caution is advised due to bearish signals and declining social volume.