🚀 $WIF

WIF/USDT Technical Analysis Update – January 9, 2025 🎯

The WIF/USDT pair has experienced significant downward movement, currently trading at $1.533 (Rs. 427.4), down by 16.50% over the past 24 hours. Below is a detailed analysis of the price action and potential targets:

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Key Metrics

24h High: $1.860

24h Low: $1.507

24h Volume:

WIF: 78.67M

USDT: 131.10M

Moving Averages (MA):

5-day MA: $1.746

10-day MA: $1.662

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Trading Signals

1. Bearish Momentum:

The price is below both the 5-day and 10-day MAs, signaling continued downward pressure.

2. Bollinger Bands:

The price is near the lower band, indicating oversold conditions. A potential rebound might occur if buying pressure increases.

3. MACD:

Currently bearish, with no crossover yet signaling a reversal.

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Targets 🎯

1. Target 1 – $1.580 (Immediate Resistance)

A minor rebound level where traders can look for short-term profits.

2. Target 2 – $1.700 (Mid-range Resistance)

The next critical level aligning with the 5-day MA. Breaking this could indicate a stronger recovery trend.

3. Target 3 – $1.860 (Major Resistance)

The 24h high and a key bullish breakout level. A move past this would signal a potential trend reversal.

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Support Levels

Primary Support: $1.507 (24h Low)

Secondary Support: $1.495 (Psychological Level)

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📊 Trading Insights:

Short-term Strategy: Monitor for a bounce from the $1.500 zone. Tight stop-loss orders recommended due to high volatility.

#Binance #WIF #Crypto #TechnicalAnalysis