Dogwifhat Retests Bearish Trendline; WIF Rebound to $3?

Dogwifhat's WIF token is today's top crypto market loss after 24 hours of sour emotion. WIF's price dropped 10% to $2.5253 intraday due to this unfavorable price movement. The cryptocurrency has recovered over $2.60 support.

WIF traded at $2.64 at press time, down 6.80% in 24 hours. This drop further lowered its intraday market value to $2,632,167,307, while trading volume fell by roughly 23% to $409,721,394. The crypto market's optimistic optimism earlier today caused this gloomy feeling.

The WIF market is optimistic notwithstanding recent corrections. According to the weekly data, the price has risen 17.69% and 58.53% in 30 days. However, a break below $1.65 support might give bears complete control of WIF.

WIF Retests Trendline, Bearish Pressure
The WIF token retested the weekly bearish trendline around $2.894 on the daily chart. After reaching this level, the asset fell for two days. Since WIF prices fall upon contact, this trendline has historically been a strong resistance.

Market experts expect WIF to drop to $2.37 by the end of the week if this trend continues. If this support wobbles, WIF prices may target $2.07 before trying another bull run.

The RSI measure retraced from the overbought level, suggesting a short-term correction. The RSI indicator at 62.69 suggests WIF may hit $2.37 before breaking out again.

If WIF token positive sentiment dominates, a breakthrough above the weekly trendline is likely. WIF prices might rise over 13% to $3.00 by the end of the week if this breakthrough eliminates adverse sentiment on the daily chart.


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