$W Certainly, let's break down the analysis of $W (Wormhole) in more detail:

1. **Market Cap**: The market capitalization of $2.1 billion indicates a substantial value for $W. This suggests that it has garnered significant attention and investment in the cryptocurrency market.
2. **Fair Launch**: Assessing whether $W had a fair launch involves looking into factors such as distribution of tokens, initial allocation, and any pre-sale or private sale arrangements. If the distribution was equitable and transparent, it could be considered a fair launch. However, without specific details, it's challenging to determine definitively.
3. **Trading Activity**: The mention of high volume and increasing open interest implies active trading interest in $W. High volume often accompanies price movements, indicating that there is significant activity and liquidity in the market.
4. **Price Action**: The analysis suggests waiting for a balance and breakout in price action. This means observing the price movements for signs of stability and a potential upward trend before considering entry into the market.
5. **Market Structure**: The current market structure is described as bearish, indicating a downward trend in prices. Support levels at $1.1 and potentially $0.90 provide insight into where buyers may step in to support the price. Monitoring these support levels can help gauge the strength of bearish momentum.
6. **Entry Strategy**: Entry into the market is planned upon a technical bullish breakout above the main resistance level of $1.25. This approach involves waiting for confirmation of a positive price movement before initiating a position, which can help reduce risk.
7. **Confirmation Factors**: Confirmation of increasing open interest after the breakout is highlighted as crucial for a bullish outlook. Rising open interest alongside price increases can indicate growing investor interest and potential further price appreciation.