Technical Analysis for $WIF /USDT:

Current Price: $1.564

24h High: $1.739

24h Low: $1.507

Key Observations:

Recent Price Action: WIF/USDT has shown a significant drop of -9.23% in the past 24 hours. This indicates strong bearish pressure, with the price approaching its 24h low of $1.507.

Volume: A high volume of 80.33M WIF and 129.63M USDT indicates active participation in the market, with possible significant movements.

Market Depth: Currently, the Depth is 1.871%, with an immediate bearish momentum of -1.887%. The price has dropped by -20.470% in the most recent update, suggesting strong selling pressure.

Support Zone: The price is nearing key support around $1.507, which could serve as a potential rebound zone if buyers step in.

Resistance Zone: The $1.739 mark is the upper boundary and will act as resistance if there is any recovery.

Trade Signal:

Entry Point: $1.564 (current price)

Stop Loss: $1.490 (below recent low for extra protection)

Take Profit Targets:

Target 1: $1.620 (initial resistance level)

Target 2: $1.650 (next significant resistance zone)

Target 3: $1.710 (further recovery into the previous highs)

Trade Momentum:

Bearish Momentum: The market is currently in a strong bearish phase with a -20.470% drop. Price action indicates that sellers are dominating, and we may see more downward pressure, especially if the price breaks below $1.507.

Bullish Reversal Potential: If the price begins to bounce back above the $1.564 mark and manages to breach $1.620, there could be a short-term reversal towards $1.650 and even $1.710.

Summary:

Current Trend: Bearish

Risk/Reward: Moderate to high, as the market is showing heavy selling pressure.

Entry: $1.564

Stop Loss: $1.490

Take Profit Levels: $1.620 → $1.650 → $1.710

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