WhiteBIT Coin (WBT) Puts Up Strong Defense at $50 Support

The price of WhiteBIT Coin (WBT) has been fluctuating around $50.45 after experiencing a 21% correction from its December all-time high of $64.11. Technical indicators and fundamental metrics are aligning to suggest a potential breakout is on the horizon. The chart structure shows strong buyer interest at this level, with the MACD recovering toward the mean line and RSI holding above neutral. This suggests that the dip could be a correction rather than a warning sign.

One of the most notable aspects of the WBT chart is its ability to hold support at $50. The price has tested this level four times, and each time buyers have stepped in. This indicates strong buying interest at this level and provides a solid foundation for a potential breakout.

The fundamental story behind WBT is also compelling. WhiteBIT is Europe's largest crypto exchange by traffic, serving 35 million users across 150+ countries and processing around $3 trillion in annual volume. The company has been expanding its reach into new markets, including the US and Saudi Arabia, and has partnered with institutions to develop blockchain infrastructure and CBDC frameworks.

The tokenomics of WBT are also noteworthy. With a hard cap of 400 million tokens and no inflation or new minting, the circulating supply is around 213.7 million. The company's weekly burn program is committed to destroying at least half of all supply, which has not dented the price in meaningful ways.

As WBT approaches its next unlock event on March 13, investors should be aware that the historical pattern favors the bulls. With a strong fundamental backdrop and technical indicators slowly turning bullish, the path of least resistance looks like it's up.