Irma Korkia
--
🚀 Dogwifhat [ $WIF ] Eyes New ATH at $5, But Only If…
📉 Market Plunge Hits WIF
Dogwifhat [WIF] experienced a sharp 18.98% drop in the past 24 hours, driven by a broader market downturn. Despite this, selling pressure has eased, with WIF starting to move upward. Mixed market sentiment, however, is slowing its recovery.
📈 On the Path to Rebound
WIF is trading within a parallel channel, suggesting potential for a rebound. This phase sees the price fluctuate between defined support and resistance zones. WIF has reacted positively to support but may consolidate further before targeting its previous ATH of $5, last reached in November 2024.
💡 Buyers Show Confidence
The Funding Rate for WIF has risen to 0.0044%, signaling long traders are paying a premium, indicating bullish sentiment. Additionally, $1.67 million worth of WIF has exited exchanges in the last 24 hours, marking four consecutive days of withdrawals, a bullish sign as tokens move to private wallets.
📉 Sellers Apply Pressure
Sellers remain active, with Open Interest dropping 10.01% to $403.15 million. Liquidations totaled $8.51 million, primarily impacting long traders ($8.05 million). This bearish activity suggests cautious sentiment, keeping WIF in a consolidation phase for now.
🔮 What’s Next for WIF?
WIF's recovery depends on breaking out of its consolidation phase. Bullish on-chain indicators and reduced selling pressure could act as catalysts for a rally. If momentum builds, WIF could target the $5 resistance and set a new ATH.
⚠️ Disclaimer
This analysis is for informational purposes only and does not constitute financial or trading advice. Always conduct your own research before investing.
📉 Market Plunge Hits WIF
Dogwifhat [WIF] experienced a sharp 18.98% drop in the past 24 hours, driven by a broader market downturn. Despite this, selling pressure has eased, with WIF starting to move upward. Mixed market sentiment, however, is slowing its recovery.
📈 On the Path to Rebound
WIF is trading within a parallel channel, suggesting potential for a rebound. This phase sees the price fluctuate between defined support and resistance zones. WIF has reacted positively to support but may consolidate further before targeting its previous ATH of $5, last reached in November 2024.
💡 Buyers Show Confidence
The Funding Rate for WIF has risen to 0.0044%, signaling long traders are paying a premium, indicating bullish sentiment. Additionally, $1.67 million worth of WIF has exited exchanges in the last 24 hours, marking four consecutive days of withdrawals, a bullish sign as tokens move to private wallets.
📉 Sellers Apply Pressure
Sellers remain active, with Open Interest dropping 10.01% to $403.15 million. Liquidations totaled $8.51 million, primarily impacting long traders ($8.05 million). This bearish activity suggests cautious sentiment, keeping WIF in a consolidation phase for now.
🔮 What’s Next for WIF?
WIF's recovery depends on breaking out of its consolidation phase. Bullish on-chain indicators and reduced selling pressure could act as catalysts for a rally. If momentum builds, WIF could target the $5 resistance and set a new ATH.
⚠️ Disclaimer
This analysis is for informational purposes only and does not constitute financial or trading advice. Always conduct your own research before investing.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
43
0