Where are the appropriate buying and selling levels for WIF?
How many dollars can the popular memecoin dogwifhat (WIF) of the Solana blockchain reach in a possible bullish scenario?
WIF, one of the altcoins that has been on the rise since November, has been performing poorly recently. Having lost more than 20 percent of its value on December 9, $WIF has been struggling to recover since that date. Although the popular memecoin moved away from the bottom region with a rise of nearly 15 percent, it could not create a strong price structure.
AMBCrypto, which examined the latest appearance in WIF, announced the possible buying and selling areas. The analysis pointed to $ 3.8 as a potential selling point.
According to the #dogwifhat (WIF) analysis prepared by AMBCrypto, a rise of nearly 30 percent can be expected in the popular memecoin.
The following statements were included in the analysis; “WIF’s price target is strategically limited to $3.8, a level that both big and small players can quickly exit.”
About a month ago, WIF reached $4.83 in a single day with a 30 percent increase. Following this increase, WIF entered a potential accumulation phase with a sharp correction to $2.9. According to AMBCrypto, a pullback to $2 could be an attractive buy point.
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According to the analysis, there was a loss of interest in WIF as high-yield altcoins came to the fore. In addition to all this, whales also started to exit WIF. The analysis predicted that two factors could drag WIF into a further decline.
The analysis noted the following; “Every time WIF approaches a key price point, a large liquidity cluster consisting of long positions is liquidated and traders are out of the game. This is evident in the sharp decline in Open Interest (OI).
OI has almost halved to $541 million. AMBCrypto attributed the decline in WIF below $3 to the decline in OI.
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