đ WIF/USDT - Potential Pullback After Hitting Resistance đ
WIF/USDT is currently trading at $2.6673, showing signs of a pullback after reaching a high of $2.8240. The price remains within an uptrend channel but is testing critical support levels, which will determine whether the bullish trend will continue or face further correction.
đ„ Key Observations:
Bullish OBs: Several bullish order blocks around $2.4985 and $2.5306 indicate areas where buyers might step in again to defend the trend.
Resistance: Price faced rejection near $2.8240, showing sellers' presence at higher levels.
Current Trend: While the price stays above the green trendline, the structure remains bullish, but any close below it could shift momentum to the downside.
đŻ Long Setup:
đ Entry for Long: Look for potential entries around $2.5300 if the price stabilizes with bullish confirmation candles.
đŻ Take Profit Targets for Long:
1. TP1: $2.7000 â Minor resistance.
2. TP2: $2.8240 â Retest of the recent high.
3. TP3: $3.0000 â Extended target if bullish momentum returns.
đĄïž Stop Loss for Long: Set a stop loss below $2.4985 to protect against further breakdowns.
đ Short Setup (In Case of Rejection):
đ Entry for Short: Consider shorting near $2.6700 if the price shows rejection from these levels with bearish signals.
đŻ Take Profit Targets for Short:
1. TP1: $2.5300 â First support zone.
2. TP2: $2.4253 â Deeper target near the next order block.
3. TP3: $2.2542 â If bearish momentum accelerates.
đĄïž Stop Loss for Short: Place a stop loss just above $2.7000 to limit losses on an unexpected rally.
đ Whatâs Next? If WIF manages to stay above $2.5300, it might make another attempt to break through the $2.8240 resistance. However, failure to hold these support zones could result in a deeper correction toward $2.2542.
đĄ Pro Tip: Keep an eye on the trendline. A clean break below could signal a trend reversal, while holding above it suggests bulls remain in control.
