The price of Dogwifhat (WIF) has increased more than 8% in the past 24 hours despite being down 36% in the past 30 days. As the sixth largest Meme Coin Coin, it still maintains an important role in the market.
Key technical indicators such as the Ichimoku Cloud and ADX show bullish momentum building, with upside potential if key resistance levels are overcome. However, the price remains within the key range, and if it fails to sustain the uptrend, it could test lower support levels.
WIF Ichimoku Cloud Shows Potential Gain Scenario
Dogwifhat’s Ichimoku Cloud chart shows that the price is currently trading in the red cloud, an area of uncertainty. The red cloud represents resistance, with the upper border acting as the main barrier for upward momentum.
If WIF price breaks above the clouds, it would signal a potential uptrend, while remaining within or below the clouds indicates continued uncertainty.
The Tenkan-sen line (blue line) is below the Kijun-sen line (orange line), reflecting weaker short-term momentum compared to the long-term trend. Additionally, the green Senkou Span A is slightly ahead of the red Senkou Span B indicating a possible shift to bullish momentum if the price breaks above the clouds.
If it cannot be overcome, this could strengthen the cloud’s resistance and lead to a consolidation or even stronger downward move.
Dogwifhat’s Momentum Is Getting Stronger
WIF’s Average Directional Index (ADX) is currently at 30.4, up from 25.3 just a day ago, showing that the trend is strengthening. ADX, currently above 30, reflects solid momentum supporting the current uptrend, suggesting the trend is gaining momentum.
ADX measures the strength of a trend on a scale from 0 to 100, not indicating the direction of the trend. Values below 20 indicate a weak or range-bound market, while values above 25 indicate a strong trend.
WIF’s 30.4 ADX level shows the presence of a strong uptrend, implying that upward momentum is forming. If ADX continues to rise, it could signal further consolidation of the uptrend, but if it starts to decline, it could indicate trend weakening or consolidation potential.
Dogwifhat Price Prediction: Will WIF Return to $2?
Dogwiftat price is currently trading within a range defined by resistance at $1.97 and support at $1.64. The EMAs indicate that the short-term averages are still below the long-term averages, but their upward move suggests that a “golden crossover” may be about to form.
This potential crossover would be a bullish signal, consistent with the current uptrend and strengthening the possibility of overcoming resistance.
If the uptrend is strong, WIF could test resistance at $1.97. A successful breakout could push the price to $2.22 and then $2.56, representing a potential 43.8% increase.
However, if the bullish momentum weakens and the trend reverses, WIF price could test support at $1.64. A break below this key level could lead to a deeper decline, with $1.35 being the next major support area.