Dogwifhat Gains Traction: WIF Jumps 19% Beyond Major Resistance Level
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Dogwifhat (WIF) has shown significant bullish momentum, with its price surging 19% to break the $1.5 resistance level. This breakout indicates increased buying pressure, opening possibilities for further upward movement.
WIF's price surge has taken it to around $1.69, with a market capitalization of over $1.7 billion and a trading volume of over $734 million. In the last 24 hours, the market cap increased by more than 19%, though trading volume decreased by over 20%.
The technical analysis shows that on the 4-hour chart, WIF has printed two bullish candlesticks, moving past the $1.5 resistance mark towards the 100-day SMA. The 4-hour RSI indicates increasing buying pressure.
On the 1-day chart, WIF remains below the 100-day SMA but has surged past the $1.5 resistance with a bullish candlestick. The 1-day RSI is also ascending, indicating stronger buying pressure.
If WIF's price continues to rise, it could approach the next key resistance level at $2.2. Should it break this level, further gains towards $3.58 are possible. If rejected at $2.2, WIF could decline towards the $1.5 level or even lower to the $1.02 mark.
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