Dogwifhat price action has just delivered a clear breakout signal that many traders have been waiting for. After spending weeks in a downward-sloping wedge pattern, WIF has finally closed a daily candle above the upper trendline of the wedge. This move is analysts call a classic falling wedge breakout, which can often lead to strong upward moves.
Globe Of Crypto noted this setup, tweeting that the $WIF breakout happened just as they predicted, already delivering a quick 17% spot profit for those who followed the trade. But more importantly, they expect a solid bullish rally in the coming days.
WIF Price Could More Than Double from Here
Looking at the chart, the breakout projection is very clear. The measured target, drawn from the height of the wedge added to the breakout point, shows a potential move up by about 0.939 or roughly 111% from where WIF is currently trading. This suggests that dogwifhat price could climb toward the $1.85 area if the breakout follows through without a major rejection.
@GlobeOfcrypto1 / X
What makes this even more interesting is how WIF has been consolidating tightly before the breakout. Periods of low volatility like that often lead to explosive moves, especially when combined with a well-defined pattern like the falling wedge.
A Bullish Momentum Shift Is Confirmed
On top of the breakout itself, the daily candle has closed above both the wedge resistance and recent highs, confirming that momentum has shifted back in favor of the bulls. This means traders and investors will likely start watching WIF closely for continuation signals, like higher lows or strong volume on up days.
As Globe Of Crypto pointed out in their analysis, this could be the start of a new mid-term rally for dogwifhat price, potentially pushing WIF beyond key resistance levels that have capped previous attempts to rally.
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What to Expect Next for dogwifhat
If WIF price can hold above the breakout zone near $0.90, the probability of a sustained move higher increases significantly. The immediate levels to watch are the psychological $1 mark and the wedge target at around $1.85. Breaking through these levels would strengthen the bullish case further.
Overall, this breakout has put dogwifhat back on many traders’ radars. After weeks of drifting lower, WIF price now has a real chance of staging an impressive rally, just as Globe Of Crypto forecasted.
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The post Dogwifhat (WIF) Price Turns Bullish and Looks Ready for Takeoff: Here’s the Outlook appeared first on CaptainAltcoin.
