One of the simplest ways to identify the market trend is by using the moving average (MA) indicator.
When price moves above the MA, it's generally considered an uptrend.
When price moves below the MA, it's seen as a downtrend.
Aside from showing the trend, moving averages can also act as dynamic support and resistance:
In an uptrend, the MA acts as support — meaning if price retraces into the MA, it often bounces back and continues upward.
In a downtrend, the MA acts as resistance — price tends to reject the MA and move lower.
In WIFUSDT, the moving average is currently acting as support, and price is pulling back into a confluence zone between 0.584 – 0.558, where the MA meets a demand zone. This setup increases the probability of the pullback ending and the uptrend continuing.
The confirmation for a bullish continuation would be a break and close above 0.620.
If that happens, the next target zone is between 0.763 – 0.789.
Keep a close eye when price approaches the previous high. The ideal scenario is a strong impulsive breakout. The worst-case scenario would be a rejection or false breakout from that level.
Alright, what's your take on WIFUSDT?