#WIF/USDT Technical Analysis
For Signal+923116176107
Daily Chart Analysis:
On the daily chart, WIF/USDT experienced significant bearish pressure, dropping by 8.06% to $1.324. Key support levels are identified at $0.994, with resistance levels at $1.987 and $2.496. The MACD values stand at -0.137 (Signal Line), -0.165 (MACD Line), and -0.028 (Histogram), indicating strong bearish momentum. The RSI value is 27.87, suggesting that the asset is in oversold territory, potentially hinting at a reversal if buying pressure increases.
4-Hour Chart Analysis:
On the 4-hour chart, the price bounced from the $0.994 support zone, showing a recovery of 17.36% to $1.319. The RSI is at 32.25, still in the oversold region, but with potential for recovery. The MACD values are -0.017 (Signal Line), -0.206 (MACD Line), and -0.189 (Histogram), reflecting ongoing bearish pressure but with signs of slowing down.
Bullish Scenario:
For a bullish scenario, WIF/USDT needs to break above the immediate resistance levels of $1.987 and $2.496 with strong volume support. If this happens, it could indicate a trend reversal and continuation towards higher resistance levels, potentially aiming for $3.00.
Bearish Scenario:
In a bearish scenario, failure to sustain above the $1.324 level could lead to a retest of the $0.994 support. If this support fails, the next major support is significantly lower, which could lead to further downside.
Disclaimer
This analysis is for informational purposes only and does not constitute investment advice. Always conduct your own research before making any trading decisions.#BTCMarketPanic
