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WIF struggles at major resistance zone as volume stalls.

WIF is testing a powerful resistance zone with multiple layers of confluence. Without strong volume, price may rotate back to the range midpoint, keeping price action locked in its broader consolidation.

WIF (Dogwifhat) is currently trading at a technically significant resistance region that has rejected price action multiple times in recent sessions. This area is stacked with major technical confluences, including the 0.618 Fibonacci retracement, the value area high, and the 200-day moving average. These overlapping levels form a strong barrier to further upside in the short term.

Key technical points

1) Multi-layer resistance zone: Confluence of 0.618 Fibonacci, value area high, and 200MA overhead.

2) Lack of volume confirmation: Price struggling to break out due to weak bullish volume.

3) Range-bound between $0.19 and $1.54: Market structure remains rotational within the high time frame range.

Technically, this zone is one of the strongest resistance regions WIF has encountered since its most recent rally. The failure to reclaim this area decisively is a sign that bulls are not in full control, and unless there is a significant surge in volume, the risk of rejection increases with each failed attempt.

If a rejection occurs here, the next logical downside target lies at the range midpoint, which also aligns closely with the value area low. This region has acted as support previously and would be a key level to watch for a potential higher low formation and bounce play.#BinanceHODLerC #AltcoinBreakout #PowellVsTrump #AltcoinSeasonLoading $WIF