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Is The Magic Of W Token Fading Away?

BINANCE:WUSDT   W / TetherUS
W token has a market cap of $1.1 Billion and is ranked 80th in the CMC. The volume of the asset price has observed a decline of 40% in the intraday session. It is currently trading near the value of $0.639 with a decline of 2% in the past 24 hours. W token price observed its all time high on APR 3 2024 of $1.61 and is now down by 60% from there.
W token price is currently forming consolidated candles on the 4 hour chart. It is trading below the 50 and 100 EMA. The upside trend of W token price can see a halt near $1 while the support price can be observed near $0.4.
The RSI of W token price is currently near 52 with a negative slope. The overall sentiment of the RSI is bearish in nature.
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