WIF market analysis today:
1. K-line pattern:
On the 12-hour chart, the current price of WIF is 2.67 USDT, and it has been fluctuating upward recently. The lower support level is around 2.50 USDT, while the upper resistance level is around 2.80 USDT. The price has tried to break through the upper resistance level many times, but has not succeeded, indicating that there is selling pressure in this area.
If the price can break through 2.80 USDT, it may further rise to 3.00 USDT, but if it fails to break through, the price may pull back to the 2.50 USDT support area.
2. Technical indicators:
MACD: On the 12-hour level chart, the MACD fast line is above the 0 axis and continues to rise, indicating that the market bullish momentum is strong. If the fast line and the slow line continue to diverge, it may push the price further up; if the fast line gradually approaches the slow line, it is necessary to be alert to the possible risk of a pullback.
RSI: The current RSI value is 65, indicating that market sentiment is still bullish, but close to the overbought range. If RSI breaks through 70, there may be a short-term correction pressure, and investors need to be cautious.
EMA: The short-term EMA30 (2.60 USDT) is higher than EMA120 (2.50 USDT), indicating that the overall trend is positive. If the price can stabilize above EMA30 and break through EMA7 (2.70 USDT), the upward trend will be further confirmed.
3. Volume:
At the 12-hour level, the volume has increased in recent rises, indicating that the buying power of the market is increasing. If the price breaks through 2.80 USDT and is accompanied by an increase in volume, it may push the price up to a higher level.
Operational suggestions:
Long strategy: When the price pulls back to around 2.60 USDT, you can consider entering the market to go long, with the target take profit set at 2.80 USDT and the stop loss set below 2.50 USDT.
Short selling strategy: If the price fails to break through 2.80 USDT effectively, you can short sell in this area, with the target profit target set at the 2.50 USDT support level and the stop loss set above 2.85 USDT.
The above views are for reference only and are not intended as investment advice.
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