dogwifhat (WIFUSD) is trying to liquidate its oversold condition - Analysis - 12-24-2024

The price of dogwifhat (WIFUSD) has stabilized at an increase during its recent trading at the moment levels, in an attempt to compensate for part of its previous losses, while at the same time trying to liquidate some of its clear oversold condition with the relative strength indicators, especially with the beginning of positive signals from them, in light of its earlier impact by breaking an ascending trend line in the short term, with the continuation of negative pressure due to its trading below its simple moving average for the previous 50-day period.

Therefore, our expectations indicate a decrease in the price of the currency during its upcoming trading, especially in the event that it breaks the support level of $1.9555, to then target the pivotal support level of $1.0764.

The expected direction for the upcoming trading: Bearish $WIF