As several meme coins staged a bullish move in the past few days, WIF recovered fully to the top following an impressive rally but is yet to break higher.
Activating bullish with a break out of a mid-term resistance line last month, WIF faced a rejection under the key $3 level and initiated drops.
That drop brought a little setback for the buyers, as the price retraced to the $1.8 level, validating a break-and-retest pattern on the daily chart. After holding the level as support, the crypto bounced back and began to show signs of strength again.
It flipped through the mentioned rejected key level this week and rallied hard to the top. Looking back from where the price started to pick up from the $1 level in August, WIF has seen a full recovery from the dip.
Facing a rejection since yesterday, the price is currently calm and yet to break higher. A resurge above the $4 level could trigger a major price break capable of bringing a massive explosion. Losing the above level could set the price up for a short pullback before regaining momentum.
By market cap, WIF is still considered the best-performing meme coin on the Solana network right now. Having increased by 3x in the last 90 days, more surges should be expected as long demand continues to rise.
WIF’s Key Levels To Watch
The $4.86 resistance level has been a hurdle for the bulls in the past 24 hours. If they surpass it, they may push the price to a new high of $6 and potentially $7 in no time.
$3.7 is a close level to watch for support in case of a pullback. The main support is located at $3. If it fails to produce a bounce, $2.54 is the next support to keep in mind.
Key Resistance Levels: $4.86, $6, $7
Key Support Levels: $3.7, $3, $2.54
- Spot Price: $4.19
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/dogwifhat-price-analysis-prediction-november-15-wif-sets-for-a-bigger-rally-but-currently-faces-resistance/