WIF Price Prediction:

Against the backdrop of increased supply, WIF's price trend has returned to the support area of $3. The current pullback is at a crucial moment that will determine the trend in December, as WIF faces the choice of either continuing to decline below $3 or rebounding back up to $7.

Recently, WIF has demonstrated strong reversal momentum. Starting from $1.262, both the highs and lows of WIF broke through $3, followed by a rebound that peaked at $4.797. However, with the market pullback, WIF's price has retraced to around $3, with the current trading price at $3.13, and support near the 78.60% Fibonacci level ($2.9845).

Despite forming a long tail, WIF's trend still shows potential for a W-bottom reversal. Although it failed to maintain upward momentum above $3.7733 (100% Fibonacci level), WIF continues to oscillate and consolidate between two key areas. Whether it breaks upward or downward will have a significant impact on future price trends.

In terms of technical indicators:

EMA: The 50-day EMA provides dynamic support and is gradually approaching the 78.60% Fibonacci level ($2.9845).

MACD: The MACD still shows a downward trend, with the bearish histogram expanding, suggesting that the pullback may continue in the short term. Previously, WIF had risen by 116%, and after the pullback, it may retest the support level and experience a rebound.

According to Fibonacci levels, if the price continues to decline, the downside target is $2.48 (Fibonacci level $2.48). If the price breaks through the current resistance, it may rise to upside targets of $5.08 and $7.427.

Summary: The current key support level is at $2.9845 (78.60% Fibonacci level), and the resistance level is at $3.77 (100% Fibonacci level). If the price can break through these key points, the potential for an upward movement will increase.

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