Date: Tue, Sept 24, 2024, 11:38 AM GMT
The cryptocurrency market is heating up after the Federal Reserve's decision to cut interest rates, sparking an impressive rally across various digital assets. Among the biggest winners today is Dogwifhat (WIF), a popular Solana-based memecoin, which has surged 13% following a key breakout.
Earlier today, Dogwifhat broke out of a descending wedge pattern on the 1-day chart. We had previously identified support around $1.41, but the real action happened when $WIF decisively broke through resistance at $1.80, sparking steady momentum. Now, WIF is trading at $1.91, showing strong potential for continued growth.
If the bullish momentum continues and Dogwifhat manages to break through its previous swing high of $2.04, the memecoin could be headed for a full-blown rally. On the daily chart, the next major resistance is at $2.68, which represents a 40% upside from its current price.
While the breakout looks promising, traders should be cautious and stay updated on market conditions.
Get more updates at: coinsprobe.com
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions.
