TLDR:
- WIF price rebounds from $0.17 lows, forming a rounded bottom with rising volume.
- RSI holds a bullish trend, suggesting growing strength without hitting overbought levels yet.
- Key resistance sits at $1.27, with extended targets up to $3.75 if bullish momentum holds.
- Price flip of $1.00 into support adds confirmation to early signs of a mid-term trend reversal.
Dogwifhat (WIF) is showing early signs of a bullish recovery after months of downward pressure.
The token appears to be rebounding from its previous lows, supported by a rounded bottom pattern and increasing buying activity. With momentum indicators turning favorable, traders are now watching key Fibonacci levels for possible resistance.
Price recently flipped the $1.00 level from resistance into short-term support, a shift that may set the stage for further upside. While WIF is still in the early phase of a recovery, current technical patterns suggest room for gains if key levels hold.
WIF Price Rebounds from Bearish Lows
Veteran financial trader Matthew Dixon noted that WIF retraced from its $4.50 high to a recent low near $0.17.
The recovery since then has been gradual, with a strong bounce from the $0.30 range, forming a rounded bottom. Price action now hovers around $1.00, aligning with the 38.2% Fibonacci retracement zone.
#WIF chart has a downward retracement, likely from $4.50 highs to the $0.17 lows.
Price now retraced to around the 38.2% zone, a common reaction level in corrective moves.23.6% Fib: $1.27 (first soft resistance)
38.2% $1.70 (next resistance)
50% $2.33 (key level)
61.8% $2.96… pic.twitter.com/0SLXCHGbtU— Matthew Dixon – Veteran Financial Trader (@mdtrade) July 14, 2025
Dixon explained that this zone often serves as a key reaction level during corrective moves. He also observed a bullish RSI structure, with the indicator now at 62 and climbing. This signals rising momentum, though WIF is not yet in overbought territory.
Traders are now eyeing critical resistance zones, starting with the $1.27 level, which matches the 23.6% Fibonacci retracement. Dixon described this as the first soft resistance, while $1.70, the 38.2% Fib level, marks the next major test.
Stronger resistance appears at $2.30, with a possible high-range target between $2.95 and $3.75 if upward momentum continues. However, he cautioned that price needs to break and hold above $1.27 to confirm a mid-term trend reversal.
RSI and Accumulation Signs Suggest Strength
Dixon emphasized the RSI’s positive structure, which has shown a series of higher lows since May. This development reflects a potential shift in sentiment, as accumulation around the $0.17–$0.30 range has slowly built support.
The recent flip of the $1.00 zone into a support level reinforces this trend, adding technical strength to the ongoing price movement. If support at $1.00 holds, the next leg higher may test the previously mentioned resistance levels.
WIF
Building Momentum for a Breakout! Our daily chart reveals $WIF consolidating beautifully within what appears to be the 'handle' of a larger bullish pattern.
A clear breach of the resistance zone could trigger a powerful rally.
Keep WIF on your radar.
#WIFUSDT pic.twitter.com/YAiE46aEmV
— High Speed (@HighSpeedWeb3) July 14, 2025
HighSpeed, another market watcher, highlighted a possible breakout forming on WIF’s daily chart. The token appears to be consolidating within what resembles a handle of a larger bullish formation. A strong move above resistance could trigger renewed bullish pressure.
According to CoinGecko, WIF currently trades at $1.00, showing a 7-day gain of 18.80% despite a small 24-hour dip. While price remains below earlier highs, current patterns suggest potential for continued upside if bulls maintain control.
The post WIF Price Action Signals Bullish Reversal: How High Can the Memecoin Go? appeared first on Blockonomi.
Source: https://blockonomi.com/wif-price-action-signals-bullish-reversal-how-high-can-the-memecoin-go/