#WIF Price Prediction:
This rally has seen WIF’s price surge towards the critical resistance level of 2.95. This is the third time since June 2024 that WIF has reached this level. Previously, after reaching this level, the price plunged by more than 50%.
This time, however, the sentiment is different as the presidential election approaches, and the overall cryptocurrency price is rising sharply. If WIF breaks through this resistance level and closes above 2.95, there is a good chance that it will surge by 30% to the $4 level in the coming days.
On the four-hour timeframe, WIF has already broken through, but has not yet held. Moreover, since this position is above the 200-day exponential moving average (EMA), it is bullish in the short term.
On-chain indicators further support WIF’s bullish outlook. WIF’s long/short ratio is currently at 1.03, indicating strong bullish sentiment among traders.
Additionally, its future open interest has surged 15% in the past 24 hours and 5.5% in the past 4 hours. The rise in open interest shows that traders are increasingly interested in WIF as it approaches resistance.
Combining these bullish on-chain indicators with technical analysis, it seems that bulls are currently leading the asset and may help traders and investors break through this level.
Current Price Momentum
Currently, WIF is trading near $2.86, with a price increase of more than 9.5% in the past 24 hours. During the same period, its trading volume jumped 45%, indicating that traders are more involved than the day before, which may be driven by the bullish outlook.
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