Analysis of $WIF IF on the 4H frame

1. Recent price trend:

The price of WIF has experienced a strong increase in November, with the highest peak reaching 3.994 USDT before correcting to the support area. The next important price level is 3.233 USDT, where the price reacted strongly during the recent decline.

2. Support and resistance:

Main resistance: 3.994 USDT (previous peak in November). Important support: 2.6 - 2.7 USDT, where the price is fluctuating and showing signs of recovery.

3. RSI indicator:

The RSI indicator is currently at around 39, indicating that the price has entered the near oversold zone. This could be a potential signal for a slight recovery.

4. Short-term prediction:

If the price holds the support level at 2.6 USDT, the likelihood of recovering back to the range of 3.2 - 3.5 USDT is quite high. Conversely, if it breaks through the support at 2.6 USDT, the price may fall to the next strong support level at 2.0 - 2.2 USDT.

💰Reference strategy:

Buy around the 2.6 - 2.7 USDT range if the price holds the support.

Sell to take profit at the levels of 3.2 USDT and 3.5 USDT.

Cut losses if the price clearly breaks below 2.6 USDT.