The $WIF price might drop by 20% as bearish sentiment grows. Dogwifhat's price surpassed a crucial support level of $3.182. There could be a bounce in WIF price from $3.152 to $2.888 to balance things out. To negate the bearish view, the price needs to close above $3.182 for a day. After dropping below $3.182, Dogwifhat's price hinted at more decline, possibly followed by a temporary bounce. This bounce, known as a dead cat bounce, might happen around that price level. If the market doesn't improve, the price might face rejection around $3.014, leading to a retest of support at $2.525 and a 16% drop. The Relative Strength Index (RSI) suggests a potential upward surge followed by rejection, indicating a brief relief rally before further decline. However, if the daily candlestick closes above $3.182, it could signal a positive market shift, possibly triggering a 6% rally from the recent high of $3.357 on June 7th.
