📉 Amidst technical pressures, the #Dogwifhat price has experienced notable fluctuations recently. Analyzing the 4-hour chart reveals key indicators shaping its future movements.
📉 Closing prices have exhibited a downward trend over the past 48 hours, signaling bearish pressure. The 9 EMA consistently stays below the 20 EMA, indicating ongoing bearish momentum.
📉 The MACD histogram has consistently displayed negative values, affirming bearish momentum. Furthermore, the MACD line remains below the signal line, reinforcing the bearish sentiment.
📉 The RSI consistently registers values below 50, indicating a bearish market sentiment. High trading volumes suggest increased market activity during this period.
💡 Resistance levels at $3.2723 and $3.2877 are crucial. Breaching these could signal a potential bullish reversal, with the next resistance at $3.4157.
💡 On the downside, support levels at $2.3419, $2.2567, and $2.1845 are crucial to monitor. A break below these could signal a continuation of the current downtrend.
🔍 Full analysis and trade strategy originally posted on ecoinimist.com. $WIF
