Solana Ecosystem WIF cryptocurrency broke through $2.77 on Monday, with a two-month high and a strong bullish atmosphere
WIF price is expected to rise sharply by 50%?
Looking back at the past four days, the price of Dogiwfhat has climbed from $2 to $2.7, an increase of 34%. This wave of increases not only made the market value of the altcoin jump to $2.67 billion, but also successfully resisted the bearish market correction caused by the Israel-Iran war, and successfully broke through the important barrier of $2.5.
From the technical chart, WIF's daily chart shows two converging trend lines, which promoted a six-month stable adjustment, and finally pushed the price to a low of $1 in early August. The recent wedge breakout pattern marks a major trend reversal in the price of Dogiwfhat. If market demand continues to be strong, buyers are expected to push the price up further by 54%, approaching $4.08 and challenging the historical peak of $4.86.
All-Star Token: A potential stock with a hundredfold return in 2024?
In the cryptocurrency market, in addition to Dogiwfhat, All-Star Token ($STAR) has also attracted much attention. I believe that buying All-Star Token is expected to return up to 100 times in 2024. This prediction is based on a possible bullish crossover between the 50-day and 100-day exponential moving averages, which will accelerate the market's recovery momentum and enhance the continued rebound momentum.
WIF price ends 190-day trend reversal, open interest surges
According to Coinglass data, since mid-September, the number of open contracts in WIF has surged from $195.7 million to $370 million, an increase of 89%. This data shows that participation in the WIF futures market is increasing, and traders generally expect large price fluctuations in the future, so they have increased their positions.
It is worth noting that the average directional index (ADX) is currently 28%, which is close to the overbought area. Although this usually means that buyers may soon feel exhausted and new buyer power is needed to maintain bullish momentum. But if the price of Dogiwfhat falls below the key support level of $2, the market may usher in a sharp decline, and may even fall back to around $1.
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