Dogwifhat (WIF) Latest Market Commentary: Hitting the 'Glass Ceiling', Taking a Breather!

On July 19, the WIF price was like a novice runner, performing well, continuously breaking through several small obstacles, steadily charging forward along an upward 'track' that started in late June!

The 20-day moving average is also supporting around $0.768, like a caring guardrail, preventing it from losing momentum.

However, on this upward path, a 'big boss' suddenly appeared — the price level of $1.127, where a strong army of sellers is waiting, firmly guarding this level and not allowing WIF to rise easily.

From a technical perspective, MACD is still shouting 'buy, buy, buy', but the distance between the signal lines is narrowing, as if the little horse is getting tired, and its momentum may not be as strong anymore.

Regarding trading volume, WIF initially surged with great enthusiasm, with trading volume exploding like a party, but recently the popularity has slightly decreased, with trading volume dropping, indicating that the market may need to 'catch its breath', undergo some consolidation, and wait for everyone to take a breath before looking at the next steps.