WIF price is showing signs of renewed strength after breaking out of a prolonged consolidation pattern.
The move has sparked optimism in the market, with technical indicators and trading activity suggesting the token could be preparing for a push toward higher resistance levels. Market data and chart insights highlight a cautiously bullish setup as the crypto navigates key zones.
Breakout Pattern Signals Fresh Momentum
A recent highlight from X by analyst Muro shows that WIF has broken out of a descending wedge pattern, which often signals a reversal or continuation of a bullish trend. The breakout occurred after weeks of compression, where price action was tightening between lower highs and a strong base of support. This move reflects renewed buying strength as momentum shifts upward.
Source: X
The chart indicates that the coin is now pushing toward previous highs, with immediate resistance projected near the $1.20–$1.30 range. The structure on the smaller time frame remains supportive of further upside, as the breakout is accompanied by consistently higher lows. This suggests that buyers are stepping in aggressively after the wedge formation.
If the bullish momentum sustains, the asset could extend gains toward the $1.40 region, which has historically acted as a strong resistance zone. A clear break above this level would confirm a continuation of the broader uptrend. For now, the breakout signals positive sentiment, with market participants anticipating that the crypto will retest and potentially surpass its earlier highs.
Market Data Highlights Strong Network Stability
On one hand, the latest market data shows Dogwifhat trading at $0.87, recording a modest 0.55% increase in the past 24 hours. With a market capitalization of $867.9 million, the token currently holds rank 132, signaling its mid-tier positioning within the broader cryptocurrency market. The available supply stands at 998.9 million tokens, which plays a significant role in shaping the token’s current valuation.
Source: BraveNewCoin
Daily trading activity remains strong, with $282.7 million in volume recorded over the same 24-hour period. This high liquidity indicates active participation from both buyers and sellers, suggesting that short-term movements are being closely monitored.
The price has fluctuated within a tight range, between $0.85 and $0.91, pointing to consolidation and balanced sentiment across the market.
Consolidation Builds Momentum for Potential Breakout
ON the other hand, the daily chart for WIF/USDT shows the token trading at $0.887, reflecting a gradual recovery after a period of consolidation. Recently, the price moved above the Bollinger Bands middle line (basis) at $0.831, signaling a tentative shift toward bullish momentum.
The upper Bollinger Band at $0.92 acts as immediate resistance, with the lower band at $0.742 providing strong support, setting a clear trading range that the token is beginning to navigate with renewed strength.
Source: TradingView
The narrowing of the Bollinger Bands over recent weeks indicates reduced volatility and a market poised for a possible breakout. Following price rallies from the lower band several times, this steady climb above the middle band signals buyers stepping in more confidently. This consolidation and cautious advance suggest the coin could soon test resistance levels if buying momentum continues to build in the short term.
Supporting this potential upward move, the Chaikin Money Flow (CMF) indicator stands positive at 0.14, showing sustained buying pressure and capital entering the market. This influx of funds aligns with the recent price appreciation and suggests investor confidence is returning.