Bullish Breakout: WIF Starts New Rally Above 100-Day Moving Average, What Next?
29 Mai 2024 - 6:00PM
NEWSBTC
The recent upward movement has led the price of WIF to continue its
rally above the 100-day Simple Moving Average (SMA). This movement
comes after it fails to break below the $1.03 support level. With a
current market capitalization of $3.9 billion and a 24-hour trading
volume of over $1.5 billion, WIF has been dominating the meme world
alongside other meme coins like PEPE and DOGE since the start of
this recent move. As of the time of writing, the price of WIF was
up by 21%, trading around $3.97 above the 100-day moving average in
the last 24 hours. WIF On The 4-hour Chart From the 4-hour
timeframe chart, it can observed that the price of WIF is actively
trading above the 100-day moving average, suggesting that the WIF
is on a bullish trend and could continue to move upward. Also,
looking at the 4-hour MACD indicator, it can be observed that the
MACD histograms are trending above the MACD zero line with good
momentum. The MACD line and the MACD signal line are also seen
moving above the MACD zero line with a good spread from each other.
Given the significance of this MACD pattern, it is possible that
WIF’s price will continue to rise and the market is still
overwhelmingly positive. On the 1-day time frame, WIF is actively
bullish as the price has previously dropped two bullish
candlesticks leading to its continuous upward movement today.
Furthermore, the 1-Day MACD indicator is giving a bullish sign as
the MACD histograms are seen trending above the MACD zero line with
good momentum and both the MACD line and the MACD signal line have
crossed above the zero line with a good spread between them. From
the MACD formation, it can be suggested that WIF’s price might move
upward even further. Future Actions Currently, there are two
resistance levels of $4.34 and $4.86 ahead of price. Should the
price continue to move upward and break above the $4.34 level, it
might move further to test the $4.86 resistance level. Also, if it
breaks this level, it might trigger a rally to create a new high.
However, if the price fails to break through at any of these
resistance levels, it might start a downward correction toward the
$2.25 support level. A break below this level might cause a deeper
correction to test the $1.78 support level. Featured image from
YouTube, chart from Tradingview.com
Pepe (COIN:PEPEUSD)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Pepe (COIN:PEPEUSD)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024