🚀 According to BeinCrypto: $WIF Price Prediction: Is There a Catch?

Despite the bullish outlook in WIF’s futures market, its spot market participants do not share similar sentiments. 

Despite the token’s price surge last week, its Chaikin Money Flow (CMF) trended downward, thereby creating a bearish divergence. The indicator measures money flows into and out of the WIF market.

A bearish divergence occurs when an asset’s price increases while the value of its CMF drops. This means that despite the price rally, the buying volume in the market is not strong enough to sustain the growth. It is a sign of a price reversal or correction in the near future.

If selling pressure outweighs buying momentum, WIF’s attempt to cross above the upper line of the horizontal channel may be hindered, forcing its price down to $3.19.

However, if the current rally is backed by even more demand for WIF, the meme coin’s price may rally toward $3.68.