Due to the recent upward movement, WIF prices continue to rally above the 100-day simple moving average (SMA). The move occurred after price failed to move below support1.03.
With a current Market Capitalization of 33.9 billion DOLLARS and a 24-hour trading volume of over 1.5 billion DOLLARS, #WIF has been dominating the #MEME WORLD along with OTHER MEME MONETS such as #PEPE and #DOGE since the MOMENT OF THIS NEXT MOVE.
At the time of writing, WIF prices are up 21%, trading about 3.97 yen above the 100-day moving average over the past 24 hours.
The 4-hour timeframe chart shows that WIF prices are trading solidly above the 100-day moving average. This indicates that WIF is in a bullish trend and may continue to move up.
Also, if you look at the 4-hour MACD indicator, you will see that the MACD histogram is above the macd zero line and momentum is good. The MACD line and the MACD signal line are also moving above the macd zero line with a good spread relative to each other. Given the importance of this MACD pattern, we can assume that WIF prices will continue to rise but the market is still positive.
On the 1-day timeframe, WIF was positive on the upside as price broke 2 bullish candles earlier, which led to continued upward movement today.
Also, the 1-day MACD indicator is showing a bullish signal because the macd histogram is above the MACD zero line with good momentum and both MACD signal lines are crossing above the zero line and there is a good spread between them. Judging from the MACD formation, we can assume that WIF prices may continue to rise.
Currently, there are resistance levels of 4.34 in front of the price: resistance4, 4.86 and 2. If the price continues to rise and breaks the 44.34 level, it could move further and test the 44.86 resistance level. In addition, if the price breaks this level, it could trigger a rally to set new highs.
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