$WIF remains bearish, but THIS group has something to gain - AMBCrypto Analytics

WIF has made a series of lower lows and lower highs on the 1-day price chart since the first week of June. Its rejection from the $3.8-$4 resistance zone saw the meme coin price slip to the range lows and then fall even lower.

In the past three weeks, the Awesome Oscillator has been stubbornly below the zero line, indicating bearish momentum. This has changed over the past week. The AO climbed higher and the trading volume jumped too.

The buying pressure rapidly picked up pace on the 24th and 25th of June. This brought the OBV up to a local resistance level.

With the $1.95-$2 zone serving as support at press time, continued OBV gains would indicate bullishness for WIF.

The cumulative liquidations levels delta had been massively negative on the 28th of June. This saw WIF prices bounce from $1.9 to $2.15. Since then, the delta has fallen once again as prices retraced the bounce.

The recent losses encouraged short-sellers, but also skewed the balance. The short positions could be hunted for liquidity before the next move.

AMBCrypto’s analysis of the liquidation levels marked the $2.2 and $2.3 as short-term bullish targets. After a retest of these pools of liquidity, WIF might continue its prior downtrend.