The latest upward motion has led the worth of WIF to proceed its rally above the 100-day Easy Transferring Common (SMA). This motion comes after it fails to interrupt under the $1.03 assist stage.
With a present market capitalization of $3.9 billion and a 24-hour buying and selling quantity of over $1.5 billion, WIF has been dominating the meme world alongside different meme cash like PEPE and DOGE for the reason that begin of this latest transfer.
As of the time of writing, the worth of WIF was up by 21%, buying and selling round $3.97 above the 100-day transferring common within the final 24 hours.
WIF On The 4-hour Chart
From the 4-hour timeframe chart, it could possibly noticed that the worth of WIF is actively buying and selling above the 100-day transferring common, suggesting that the WIF is on a bullish pattern and will proceed to maneuver upward.
Additionally, trying on the 4-hour MACD indicator, it may be noticed that the MACD histograms are trending above the MACD zero line with good momentum. The MACD line and the MACD sign line are additionally seen transferring above the MACD zero line with a superb unfold from one another. Given the importance of this MACD sample, it’s attainable that WIF’s worth will proceed to rise and the market remains to be overwhelmingly constructive.
On the 1-day time-frame, WIF is actively bullish as the worth has beforehand dropped two bullish candlesticks resulting in its steady upward motion at present.
Moreover, the 1-Day MACD indicator is giving a bullish signal because the MACD histograms are seen trending above the MACD zero line with good momentum and each the MACD line and the MACD sign line have crossed above the zero line with a superb unfold between them. From the MACD formation, it may be steered that WIF’s worth would possibly transfer upward even additional.
Future Actions
At the moment, there are two resistance ranges of $4.34 and $4.86 forward of worth. Ought to the worth proceed to maneuver upward and break above the $4.34 stage, it would transfer additional to check the $4.86 resistance stage. Additionally, if it breaks this stage, it would set off a rally to create a new excessive.
Nevertheless, if the worth fails to interrupt by at any of those resistance ranges, it would begin a downward correction towards the $2.25 assist stage. A break under this stage would possibly trigger a deeper correction to check the $1.78 assist stage.
Featured picture from YouTube, chart from Tradingview.com
