After weeks of fading momentum, Dogwifhat (WIF) is starting to show signs of life again. In a tweet posted on July 3, Coinpedia shared a technical chart highlighting a possible recovery forming within a falling price channel. According to their analysis, WIF was trading at $0.935 and needed to break above $1.078, the 200-day EMA, to open the path toward the next major target at $1.389.

But since then, the price has pulled back slightly, dipping to around $0.88 as the broader crypto market takes a breather following a solid rally earlier in the week. Still, the chart setup remains intact – and WIF might just be gearing up for its next big move.

What the WIF Chart Shows

The daily chart shows WIF moving inside a falling channel. That means the price has been making lower highs and lower lows for the past few weeks. But recently, WIF bounced from the lower support line of the channel. That’s usually a sign that buyers are still stepping in when the price gets low.

Source: X/@MarketCoinpedia

The RSI (Relative Strength Index) was around 56 when Coinpedia posted the chart. This suggests buyers are gaining strength, but the price isn’t overbought yet. It leaves room for the price to climb higher if momentum builds.

Below the chart, the MACD indicator shows the start of a bullish crossover. The blue MACD line is crossing above the orange signal line, which is often an early sign that the downtrend might be ending.

Altogether, these are signs of a possible shift toward bullish momentum – but a clear breakout hasn’t happened yet.

Key WIF Price Levels to Watch

Coinpedia’s tweet pointed to $1.078 as the most important level to break. That’s where the 200-day EMA sits, and it’s a big resistance zone. If WIF can break and stay above that level, traders might start looking at the next target around $1.389.

That $1.389 level is also near the upper edge of the falling channel. If WIF pushes past both the EMA and that upper trendline, it would be a strong signal that a bigger move is starting.

On the downside, the lower trendline of the channel – near $0.80 – is key support. If WIF drops below that, it could head back toward $0.70 or lower.

Read also: PENGU Price Breakout? Why This Key Resistance Could Make or Break the Rally

Short-Term WIF Price Prediction

Even though WIF dipped to $0.88 after the tweet, the price is still trading inside the falling channel. That means the setup is still valid for now.

If the price holds above the support line and starts to move up again, we could see WIF retest $1.00 and possibly try to break through $1.078. If that happens, a move toward $1.30 to $1.38 becomes more likely in the short term.

But if momentum fades and WIF falls below $0.80, the next support zones could be around $0.70 or even $0.60.

The next few days are important. If the MACD crossover holds and the RSI stays strong, buyers could step back in soon – especially if Bitcoin and the rest of the market stay steady or move higher.

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