#WIF Price Prediction:
The dogwifhat price continues to trade under bearish sentiment and has seen a 7.95% correction in the past 24 hours. Moreover, it has plunged by more than 33.50% in the past 7 days and 42.44% in the past 30 days. This indicates that there is a long-term bearish sentiment in the cryptocurrency market towards memecoin.
The Simple Moving Average (SMA) keeps acting as a resistance on the price chart on the 1D timeframe. This indicates that there is a strong bearish sentiment in the cryptocurrency market towards memecoin.
On the other hand, the RSI has fallen below the oversold zone, highlighting that the market has more selling pressure than buying pressure on the WIF price. Moreover, the average index keeps falling, suggesting that the dogwifhat price will continue to lose momentum.
If the bulls regain momentum, the price of WIF coin will be ready to test its upper resistance level of $3 in the coming period. However, if the bears continue to dominate the market, then memecoin will fall to its critical support level of $1.240.
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