Formation of a descending triangle after a global downtrend. Personally, I am bullish on WELL and Moonbeam ecosystem as a whole. The protocol recently received a grant of 16 million GLMR (currently $3.3 million). Of course, this does not mean that they will buy back WELL, but it means that development does not stand still and the community and token holders are waiting for major initiatives + recent expansion to BASE blockchain.