Overview of asset #WIF on the 2-hour timeframe.

Currently, the price is trading at the level of 2.82, remaining in a sideways range after a deep decline.

Local structure:

We see a gradual narrowing of the range and accumulation of volume, which often precedes a strong impulse.

Upper zone of interest: 3.4–3.5 – this is where position fixing may begin.

Local support: 2.6 – if it decreases, a new low may be updated and go below to 2.5.

At the moment, I am waiting for a reaction from the current zone. We are watching for a breakout of the level 3.0 to confirm upward movement. If we do not hold at support, I am considering further decline.

LONG: If we consolidate above 3.0, we can expect an upward impulse with the first target at 3.4–3.5, and then a test of the area 3.7–3.8.

SHORT: If the price does not hold and consolidates below 2.6, we can consider a continuation of the decline to the range of 2.4–2.5.