Price and Trend Overview
Current Price: $2.849
Trend: Bearish. WIF/USDT has broken below the 200-period Simple Moving Average (SMA) at $3.242, signaling a shift to a bearish medium-term trend. The price is currently testing a critical support zone near $2.800, with potential for further declines if this level fails.
Indicators
RSI (Relative Strength Index):
Value: 28.18
Condition: Oversold, suggesting potential for a short-term rebound if buying interest increases.
MACD (Moving Average Convergence Divergence):
MACD Line: -0.101
Signal Line: -0.142
Histogram: -0.041
Condition: Strong bearish momentum as the MACD line remains below the signal line, with a widening histogram indicating increasing selling pressure.
Volume:
Trading Volume: 6.824M
Interpretation: Moderate volume during the recent decline suggests steady selling pressure, but no signs of capitulation yet.
Key Levels
Support Zones:
$2.800: Immediate support level currently being tested.
$2.500: A psychological support level and previous demand zone.
Resistance Zones:
$3.000: Immediate resistance from recent breakdown levels.
$3.242: The 200 SMA level, now acting as a key resistance.
Scenarios
Bullish Scenario:
If WIF/USDT holds above $2.800 and reclaims $3.000 with increasing volume, it could signal the start of a recovery toward $3.242 or higher.Bearish Scenario:
A breakdown below $2.800 could lead to further declines toward the next major support at $2.500, especially if accompanied by increasing sell volume.