Technical Analysis: $WIF /USDT
#### Current Price and Performance
- **Price**: 2.4766 USDT
- **24h Change**: +0.72%
- **24h High**: 2.4786 USDT
- **24h Low**: 2.0951 USDT
- **24h Volume (WIF)**: 97.16M
- **24h Volume (USDT)**: 220.38M
#### Recent Trends
- **15 Days**: +15.76%
- **30 Days**: +49.80%
- **90 Days**: +1.65%
- **180 Days**: -3.56%
#### Order Book Analysis
- **Bid/Ask Spread**: Very narrow at 0.0001 USDT, indicating high liquidity and tight trading ranges.
- **Bid Depth**: Strong support with substantial buy orders around the current price.
- **Ask Depth**: Comparable sell orders suggesting balanced trading activity.
#### Technical Indicators (4h Chart)
1. **Support and Resistance Levels**:
- **Immediate Support**: 2.4000 USDT
- **Immediate Resistance**: 2.6000 USDT
- **Strong Resistance**: 2.8000 USDT
2. **Price Action**:
- The price is currently trading near the upper range of its recent high, indicating bullish momentum.
- Recent price movement shows consistent higher lows, a sign of an uptrend.
3. **Volume**:
- High trading volumes in both WIF and USDT suggest strong market participation and interest.
4. **Trend Indicators**:
- **Moving Averages**: If the price is above the 50-period and 200-period moving averages, it confirms a bullish trend.
- **RSI (Relative Strength Index)**: If RSI is below 70, thereโs still room for upward movement before hitting overbought conditions.
#### Conclusion
Given the current price movement, significant trading volume, and strong support levels, WIF/USDT shows a bullish trend. Beginners and learners can consider the following strategy:
1. **Entry Point**: Around the current price of 2.4766 USDT, as it is close to the immediate support level of 2.4000 USDT.
2. **Target Price**: First target at 2.6000 USDT, with a stretch target of 2.8000 USDT.
3. **Stop Loss**: Set a stop loss slightly below the immediate support, around 2.3500 USDT, to manage risk.
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