WIF market analysis today:
1. K-line pattern:
WIF is currently priced at 2.512 USDT, and has recently shown a fluctuating upward trend. The short-term support level is 2.40 USDT, and the main resistance level above is 2.70 USDT. The price has tried to break through the upper resistance several times, but has not yet succeeded, indicating that there is strong selling pressure in this area.
If the price can break through 2.70 USDT, it is expected to rise further to 3.00 USDT or even 3.20 USDT; if it fails to break through, the price may pull back to 2.40 USDT, or even test the 2.20 USDT support level.
2. Technical indicators:
MACD: The MACD fast line is above the zero axis and continues to diverge from the slow line, indicating that the market has strong bullish momentum. If this trend continues, the price is expected to rise further; if the fast and slow lines narrow, be alert to possible pullbacks.
RSI: The current RSI value is 66, indicating that the market sentiment is bullish, but close to the overbought area. If the RSI exceeds 70, there may be pullback pressure in the short term.
EMA: EMA7 (2.50 USDT) is above EMA30 (2.45 USDT), indicating that the current trend is still upward, but EMA120 forms a major resistance at 2.70 USDT. If the price breaks through and stabilizes at this position, it will further confirm the upward trend.
3. Volume:
The volume has increased during the recent rise, indicating that the market buying power has increased. If the volume increases when the price breaks through 2.70 USDT, it will help push the price further up.
Operation suggestions:
Long:
Entry point: Consider entering the market to go long when the price pulls back to around 2.40 USDT.
Target stop profit: The first stop profit level is set at 2.90 USDT, the second stop profit level is set at 3.20 USDT, and the higher target level can be set at 3.50 USDT.
Stop loss point: The stop loss can be set below 2.20 USDT to prevent the price from falling below the main support area.
Short:
Entry point: If the price encounters resistance at 2.70 USDT and fails to break through, you can short in this area.
Target profit: The first stop profit is set at 2.40 USDT, the second stop profit is set at 2.20 USDT, and the further target can be seen as 2.00 USDT.
Stop loss point: If the price breaks through 2.75 USDT, you can consider setting a stop loss to prevent further rise.
The above views are for reference only and are not investment advice.
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