WIF Upward Potential Observation - The Actual Increase of Meme Coin Revealed
Although the market has not fully recovered, the price plunge has improved a lot. Since April, the overall trend has indeed been downward, but now the signs of an increase may be the beginning of a rebound.
Look at the dogwifhat coin. From Monday, September 30 to Thursday, October 3, the price fell by 25.4%. This correction is not small, and it has re-tested the previous high of $1.98. However, bulls think this is a support level and can hold up.
Sure enough, buyers then let the price rise by 18.9%, which is a good sign of recovery. However, the resistance level of $2.5 is still difficult to break, and it is not known whether the bulls can rush through it.
Why is $2.5 so important?
Look at the trading volume. Since June, most of it has been between $1.38 and $2.25. After the price falls, if it breaks through $2.25 again, it means that the rise is good.
CMF is now +0.14. Although it has fluctuated recently, it has always been above +0.05, which shows that the pressure from buyers is still quite stable. There is also an Awesome Oscillator, which also shows that the rise is quite good.
Let's take a look at the Fibonacci retracement level, which was drawn when it fell in July and early August. The result shows that $2.5 is the 78.6% retracement level, which is also an important resistance level.
So, if the daily closing price of WIF can exceed $2.5, it will be really great, indicating that it may usher in a bigger rebound. After all, this price was a difficult level in June and early July. Looking up, $2.5 and $2.9 are our current targets.
Speaking of WIF speculation, the futures market is full of confidence. Open interest has risen, and spot CVD has also risen, which shows that the upward trend is really supported by demand.
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After a few days of sharp decline, BTC, ETH, SOL, PEPE, SUI, DOGE, WIF, FET, AAVE, BNX should enter the market to ambush, otherwise you will miss this wave of bull market! If you are still hesitant and confused, come to me for layout, I will teach you
