$WIF
Since yesterday, many friends have been asking about the market trend of WIF. Here is a brief explanation. The price of WIF has plummeted more than 8% in the past 24 hours, with the target trading price at $3.08.
The price of WIF has shown a series of lower lows and lower highs on the 4-hour chart, forming a descending price channel. If this downward trend continues, there may be a risk of testing the immediate support levels of $2.77-$2.58.
On the contrary, if the price of WIF breaks through the major resistance level of $3.3983, it will mark the end of the token's decline. Once this technical barrier is breached, WIF will escape the bearish descending channel. At that point, if it breaks through $3.39, a rapid surge will occur, and resistance will quickly rise to $4.2.
From a technical indicator perspective, taking the 4-hour level as an example, the MACD double line is showing a golden cross trend below water, and SKDJ is also forming a golden cross around 20 and has resonated with the daily position. Personally, I judge that the probability of a breakout to the upside is relatively high.