Connect with us
Active Currencies 15715
Market Cap $3,444,455,154,110.90
Bitcoin Share 54.51%
24h Market Cap Change $0.08

WIF price prediction: Odds of setting a new ATH near $6 are…

2min Read

Targets beyond $6 are likely, but a WIF drop below $3.9 would be an early warning sign for traders of a deeper pullback.

WIF price prediction- meme coin challenges all-time high, targets another 50% move

Share this article

  • WIF is set to break past its all-time high at $4.86.
  • Short-term selling pressure could induce volatility, watch the $3.9 level.

dogwifhat [WIF] was up by 42% in the past 24 hours and has rallied over 82.6% in the past seven days. The strong gains that Bitcoin [BTC] has been making lately have not begun to flow en masse into the altcoin space.

Evidence for this was present on the Bitcoin Dominance chart. Despite this fact, the bullish conviction in the crypto sphere right now is intense. The Crypto Fear and Greed Index stood at 86, showing extreme greed- a by-product of a bull run.

dogwifhat challenges all-time high and gears up for more gains

WIF 1-day Chart

Source: WIF/USDT on TradingView

Since the lows of Monday the 4th of November, dogwifhat has risen by 125.7%. The RSI was at 80, surpassing the March and September highs. This does not automatically mean the market will pull back significantly.

The OBV also made a new local high, signifying increased buying pressure as the meme coin rallied hard. This was a strongly encouraging sign for holders and more reason for a bullish WIF price prediction.

The all-time high at $4.86 was nearly tested on the 13th of November, with WIF rising to $4.83 before pulling back to $3.92. The 61.8% Fibonacci extension level there has served as support in recent hours.

To the north, the 200% extension level at $6 is the next WIF price prediction target.

Short-term selling pressure on the rise

WIF Coinalyze

Source: Coinalyze

The Open Interest climbed from $360 million on the 11th of November to stand at $611 million at press time. The price is also up by 71% in this time.

Together, they showed high bullish conviction amongst speculators and healthy bidding in the futures market.


Realistic or not, here’s WIF’s market cap in BTC’s terms


The spot CVD began to decline in recent hours. This was likely to be a short-term blip that could induce volatility. The long-term trend remains firmly bullish.

Targets beyond $6 are also valid, while a drop below $3.9 would be an early sign of a deeper pullback.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Share

Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis. In fact, Akashnath has a particular interest in reading price charts and predicting how an asset will move over the short and long term. A self-taught trader and as someone who holds cryptos himself, he is always on the lookout for the next opportunity he can possibly capitalize on, while also educating his audience.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.