Closing last month at a loss due to a slight market correction, WIF slipped to retest a broken resistance as support last weekend and briefly climbed back. It currently appears strong and ready for a fresh rally. Starting the second quarter of the year on a positive note, WIF posted a major gain and quickly turned super bullish on the daily chart. It took a temporary break in buying after pushing well to a three-month high and underwent a short retracement, bringing us back under the key $1 level. The crucial $0.79 resistance level that flipped during last month’s break acted as support after retesting it last week, and the price bounced back. It is now looking strong and ready for another major rally on the daily chart. The mentioned key level may pose a little threat in the latest buy. Overcoming this level should open the market for more gains capable of rallying the price to a new multi-month high. However, if that key level rejects the latest buy, we can expect a slight drop before resuming a buy. Regardless of that, the market structure is still considered bullish on the daily graph. If the recent bounced level fails to hold as support, the price may retrace lower before locating a firm support. With the current price gain, WIF just signals a potential recovery in meme coin prices while leading the party. WIF’s Key Levels To Watch Source: Tradingview A push above $1 should bring us back to May’s $1.39 resistance with a potential breakout to $1.75. The next resistance level to watch is $2.3. The $0.79 support is still holding strong. If the market retraces lower, the key supports to consider for a rebound would be $0.53 and $0.4. Key Resistance Levels: $1.39, $1.75, $2.3 Key Support Levels: $0.79, $0.53, $0.4 Spot Price: $0.98 Trend: Bullish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
