Dogwifhat (WIF) has seen a significant price increase of over 10% within the last 24 hours, raising the possibility of further growth. Technical analysis suggests that a bullish trend could emerge, particularly if the short-term EMAs cross above long-term ones, signaling a golden cross.
The RSI, currently at 58.30, indicates that WIF is not yet overbought, suggesting more room for upward price movements without the immediate risk of a price correction. The ADX also supports the current trend as strong, though the intensity has slightly diminished.
The potential for WIF to achieve a golden cross may lead to price targets at higher resistance levels, provided the upward trend maintains strength. Conversely, a failure to sustain this trend could revert WIF's price back to significant support levels.
Market analysis also points to the possibility of a 30% price surge should WIF's EMAs form a golden cross and overcome resistance levels around $2.6, $2.8, and $2.97. Otherwise, a downturn could see support zones revisited at $2.19 and $1.97.
