Technical Analysis of WIF:
1. General Trend:
The coin saw a strong price surge at the beginning of December, reaching levels close to $4.
This was followed by a sharp correction and a strong decline, which led to a drop in the price to levels of $2.5.
2. Support Point:
There appears to be a strong current support level at around $2.5, as the price has repeatedly bounced from this point.
If the price breaks this support, we may see an additional decline.
3. Resistance Point:
The current major resistance is located at the $3.0 level. A break of this level may open the way for the price to return to the previous high near $3.5 - $4.0.
4. Trading Volume:
The trading volume seen at the big rises indicates interest from traders, but during the recent decline, the trading volume has diminished, indicating weak selling pressure.
5. Volatility:
The price is currently fluctuating between $2.5 and $3.0, which may indicate that traders are waiting before making a decision on the next direction.
Future Outlook:
If the coin can break $3.0 with an increase in trading volume, it may be a sign of the beginning of a new bullish wave.
If the price loses the support level at $2.5, it may drop to lower levels (possibly $2.0).
Personal Opinion:
WIF is a meme coin and therefore relies heavily on media hype and community interest.
