Wormhole’s W token surged 27% over the past 24 hours, backed by spot buyers, with positive Spot Netflow reaching approximately $567,000 on October 8th versus $226,620 on October 7th, according to CoinGlass. The Relative Strength Index (RSI) stood at 78.03, above the 70 threshold indicating overbought conditions, and price traded above the upper Bollinger Band, signaling stretched valuation. Liquidation clusters were identified below current price, which could amplify losses if W declined and trigger forced selling of long positions. For now, the rally relies on spot buying support, but momentum indicators remain extremely tight and expose the price to pullback risk.
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