$WIF $BTC Coin $WIF is suffering from negative pressures

The price of dogwifhat (WIFUSD) has declined during its recent trading at the moment levels, amid its earlier impact by breaking an upward trend line in the short term, with the negative pressure continuing due to its trading below its simple moving average for the previous 50-day period, and in addition to that, we notice the beginning of the formation of negative divergence in the relative strength indicators, after reaching areas of severe saturation with buying operations, in an exaggerated manner compared to the price movement, with the beginning of the emergence of negative signals from it.

Therefore, we expect further decline in the price of the currency during its upcoming trading, especially in the event of its stability returning below the support level of $1.9555, to then target the pivotal support level of $1.0764.

The expected direction for the upcoming trading: Bearish