The current 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 beneath 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 because the begin of this current 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 shifting common within the final 24 hours.
WIF On The 4-hour Chart
From the 4-hour timeframe chart, it could actually noticed that the worth of WIF is actively buying and selling above the 100-day shifting 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 shifting above the MACD zero line with an excellent unfold from one another. Given the importance of this MACD sample, it’s attainable that WIF’s value will proceed to rise and the market continues to be overwhelmingly optimistic.
On the 1-day timeframe, WIF is actively bullish as the worth has beforehand dropped two bullish candlesticks resulting in its steady upward motion as we speak.
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 an excellent unfold between them. From the MACD formation, it may be recommended that WIF’s value may transfer upward even additional.
Future Actions
At the moment, there are two resistance ranges of $4.34 and $4.86 forward of value. Ought to the worth proceed to maneuver upward and break above the $4.34 stage, it’d transfer additional to check the $4.86 resistance stage. Additionally, if it breaks this stage, it’d set off a rally to create a brand new excessive.
Nevertheless, if the worth fails to interrupt via at any of those resistance ranges, it’d begin a downward correction towards the $2.25 assist stage. A break beneath this stage may trigger a deeper correction to check the $1.78 assist stage.
Featured picture from YouTube, chart from Tradingview.com