Resuming bearishness this week, WIF found support and recovered slightly from the dip. It has shown signs of strength for some days and now looks poised for a bullish move. After the early month recovery, WIF initiated drops this week and resumed bearish, but the $0.5 level provided support, and the price slowly increased. This has brought a slight recovery and the asset is now trading well above $0.7 on a daily scale. Technically, the meme coin’s selling phase appeared to have reached an exhaustion point as trading enters an extreme oversold condition on the daily chart. Buyers have been showing interest for some days, but their commitment is not yet strong. But adjusting to the 4-hour timeframe, it is stylishly forming a double bottom above the aforementioned support level. The slow-and-steady movement is reaching a breakpoint in the same timeframe. A weekly close above the $0.8 level could fuel a major increase. If the selling pressure resumes due to increasing supply, the price may plunge to a new low before picking up. Regardless, the trend is still in a downward range on the daily chart. While the trend is showing signs of a reversal, the bears are still in control. WIF’s Key Levels To Watch Source: Tradingview Today, WIF is showing signs of strength following a small increase. The close resistance level for a test right now is $0.8. If the price increases, the higher price level to watch is $1.11, followed by $1.75. Holding the $0.58 and $0.5 levels as support for the past few days, a drop off could slide the price to $0.48 and potentially $0.334. Key Resistance Levels: $0.8, $1.1, $1.75 Key Support Levels: $0.58, $0.48, $0.334 Spot Price: $0.74 Trend: Bearish 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 ! Image Source: bizoon/ 123RF // Image Effects by Colorcinch
