Dogwifhat Price is hovering near a crucial support level around $0.55 after displaying both bullish and bearish divergence signals.
As volatility tightens, technical indicators hint that the next breakout could determine whether the coin resumes its upward trend or slips into deeper correction territory.
Hidden Divergences Define WIF’s Next Move
In a recent post on X, analyst Crypto GEMs noted a series of RSI divergences on the coin chart, marking a potentially pivotal moment for the meme-inspired token. The chart highlights a hidden bullish divergence, where the RSI formed higher lows while the price created lower lows, suggesting underlying buying strength. This often precedes a short-term rally or reversal, reflected by the coin’s current attempt to hold above immediate support.
Source: X
However, the analyst also pointed out a hidden bearish divergence, as the token makes higher highs on price but fails to mirror that momentum on the RSI. This inconsistency could cap gains unless the coin successfully breaks the $0.619 resistance level, which would invalidate the bearish setup. A confirmed breakout could propel the token toward the 100% Fibonacci extension near $1.416, representing a strong continuation of its bullish wave structure if momentum aligns with volume.
Market Data Shows Stability Around $0.55
According to BraveNewCoin, Dogwifhat is currently priced at $0.55, down 1.46% over the past 24 hours. The token holds a market capitalization of $552.67 million and reports a 24-hour trading volume of $126.46 million. With an available supply of 998.9 million tokens, the token maintains its rank at #164 by global market cap.
Source: BraveNewCoin
This consolidation phase underscores cautious sentiment among buyers, as the token continues to build a base around the $0.55 mark. The trading pattern suggests accumulation within a narrow range, a condition often preceding larger directional movements. Should market conditions improve and meme-token liquidity return, the crypto could see renewed demand, especially given its correlation to broader Solana ecosystem activity.
RSI and MACD Indicate Gradual Momentum Recovery
At the time of writing, WIF/USDT was trading at $0.551, down 1% for the day, according to TradingView data. The Relative Strength Index (RSI) is recorded at 42.86, above its moving average at 39.03, reflecting mild improvement in momentum after sustained selling pressure. Meanwhile, the MACD shows a reading of –0.366 versus the signal line at –0.483, with a positive histogram of 0.117, confirming that downside momentum is weakening.
Source: TradingView
Technically, maintaining support above $0.55 remains key to preventing further losses. If RSI continues to rise and MACD expands into positive territory, the crypto could attempt a short-term recovery toward $0.619 and beyond. Failure to hold this zone, however, risks exposing the token to lower support levels near $0.47, potentially delaying a broader reversal. For now, the momentum structure favors cautious optimism as bulls defend a critical juncture in the ongoing consolidation phase.