WIF bulls defend the $0.7 support – Can they drive a rally beyond $1?

A lack of demand and dwindling trading volume showed that dogwifhat was not yet ready to rally.

WIF has bullish potential, based on the 1-week chart.

To achieve this, a move beyond $1 and $1.18 alongside rising demand would be necessary.

dogwifhat [WIF] bulls managed to defend a higher timeframe support zone around the $0.7 demand zone.

In a report made in May, AMBCrypto noted that a breakout past $1.2 was not an immediate buying opportunity. Rather, bulls could wait for $1.26 to be flipped to support.

This came true, especially as Bitcoin [BTC] retraced from $111k in the final week of May and fell 10.2% over the next two weeks. At the time of writing, BTC continued to trade within the $100k-$111k area.

The global liquidity index gave long-term crypto investors good reason to expect the market to move higher, with Bitcoin leading the rally in the coming weeks.