[WIF shakes off setback as bullish recovery targets more gains]
WIF has been on a strong run lately, with bullish momentum pushing the price back up from the $2.89 support and approaching the $3.58 resistance. The continued rise in prices shows that market sentiment is turning optimistic and buying pressure is increasing. Technically, WIF has established itself above the 100-day moving average (SMA) on the 4-hour chart, setting the stage for a challenge to resistance at $3.89.
The 4-hour relative strength index (RSI) rebounded from 40% to above 50%, reflecting a return to buyer power. On the daily chart, WIF formed a bullish candle line and broke above the SMA, further strengthening market confidence. The daily RSI rose to 57% and is holding steady above 50%, indicating continued positive market sentiment.
Going forward, further upside for WIF depends on its ability to break above the $3.58 resistance level. If it successfully breaks through, the price is expected to challenge $3.89 or even higher; conversely, if it fails to break through, it may fall back to the support level of $2.89, or even drop further to $2.2. Overall, the WIF uptrend remains solid, but a breakout of key resistance levels remains to be seen.