Another purchase opportunity is expected to arise with Dogwifhat meme currency

A widening wedge pattern is forming as the price of dogwifhat consolidates.

Just recently, WIF was pushed back down to retest the pattern's bottom limit.

Before setting off an upward movement, WIF will probably break $2.32.

Friday saw a devastating decline in the price of Dogwifhat (WIF) as it followed Bitcoin's lead. much if several cryptocurrencies are making a comeback, WIF will probably fall much farther before it tries to climb back up.

A widening wedge has formed in the dogwifhat price pattern since April 14, which consists of four lower lows and four higher highs. WIF is now trading at $2.83 after a brief rally that sent it back down to $2.50 after Friday's drop retested the bottom limit of this wedge.

Dogwifhat is expected to break the expanding downward wedge and go beyond the $2.32 support level in the near future, according to investors. The fate of the crypto with a canine motif hinges on WIF's response to this level.

As soon as the dogwifhat meme currency does a sweep and then a reclaim, it will be ready to climb higher. In order for WIF to go beyond this level, it must rebound above the bottom limit of the widening wedge. There is a possibility that the meme currency may retest $3.25 if these two things happen.

The bullish thesis will be rendered useless if the price of dogwifhat breaks below the $2.32 support level, regardless of the possibility of a rebound. If this trend continues, WIF can fall 14% and reach the $2 psychological barrier.

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