- Dogwifhat may make some significant gains by breaching a nearby zone of resistance.
- A high volume of purchases was a positive sign.
dogwifhat [WIF] Since Monday the 23rd, September to the moment of this writing, we have seen an increase of 37%. Since Monday, 23rd of September to the time this article was written, we have seen a 37% increase in prices. meme coin Also, we saw the breakout of the range that spanned seven weeks and whose highest point was $1.98.
As this is WIF’s first cycle, long-term uptrend..and a 2021 Dogecoin [DOGE] A -like trend cannot be excluded. What swing traders and investors should keep in mind.
Fibonacci levels of retracement could repel the bulls
TradeView: Source for WIF/USDT
Daily market structure showed a strong bullish bias and OBV indicated that buying pressures were intense. This breakout was likely to surpass $2.9 because the volume indicator moved above both the highs of August and those from earlier in July.
Fibonacci levels of retracement were calculated based on the downtrend in the second half of July. The 78.6% level is $2.5. This level served as support in the first half of July and then became resistance.
Bulls will be able to break this trend if they can close the daily session above this mark. Bitcoin’s price was not likely to be rejected, however. [BTC] Retracement may force WIF also to withdraw.
Short-term, the $2.50 zone is critical
Source: Hyblock
Data from the last week’s heatmap on liquidation shows that $2.45-$2.5, and $1.8-$1.9 are the main short-term zones of resistance and support. Liquidity at $2.12 is also noteworthy.
Here’s a list of realistic and not-so-realistic images. WIF’s market cap in BTC’s Terms
You can visit these magnetic zones before prices begin to move in the opposite direction. It was the combination of the Fib level and the liquid pocket at $2.5 that made it the primary resistance area for the dogwifhat bears.
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Source: ambcrypto.com
