Dogwifhat (WIF) Looks to Sustain Rally After Short-Lived Peak
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Dogwifhat (WIF) saw a 66% price increase to an intraday high of $1.77, outperforming Bitcoin and other memecoins. Despite a slight decline to $1.70, indicators like the Relative Strength Index and Money Flow Index show strong buying pressure. A positive Elder-Ray Index supports the bullish sentiment, suggesting potential for continued price rise.
Further analysis indicates that WIF's Parabolic Stop and Reverse (SAR) indicator is in favor of an upward trend, with the dots below the asset’s price. This suggests the rally might continue, aiming for the $1.99-$2 range.
However, if the trend reverses, WIF’s price could fall to $1.07, marking a significant downturn. The general bullish sentiment and demand might push the price above the $2 mark if current trends prevail.
Fonte: beincrypto.com ↗
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