Dogwifhat (WIF) Price Update: Brace for Bearish Trends 📉
Get ready to face a bearish trajectory, as Dogwifhat (WIF) undergoes corrections, slipping out of a previous bullish pattern. The prevailing skepticism is likely to intensify the decline, potentially pushing WIF down to $2.
Dogwifhat Struggles to Garner Investor Support
- Market cues contribute to the WIF price breakdowns, driven further by apprehension among WIF holders.
- Over $13 million in long contracts liquidation will divert bullish traders’ attention from the meme coin.
- Bears are expected to dominate the Futures market, with a prolonged absence of positive participation.
As optimism wanes, the likelihood of bearish dominance looms over WIF, impacting its price trajectory significantly. Difficulty in regaining lost bullish momentum following recent corrections further weakens WIF’s position. The Relative Strength Index (RSI) failed to maintain neutrality, signaling a bearish trend awaits.
Predicting WIF’s Next Major Support Level
- Current trading at $2.57, WIF hovers over a critical $2.36 support level.
- With growing bearish signals, a breach of this level could precipitate a drop to $2.
- Repeated testing of this support level in the past suggests significant losses if breached.
If WIF manages to hold above the support level, a resurgence could lead to breaking the $2.75 resistance and nullifying the bearish outlook. Reclaiming $3 would denote a recovery, boosting overall market sentiment towards WIF.
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