WIF breaks key resistance and surges by 34%. Explore insights from Santiment and Coinglass on its bullish potential.
has declined by over 64% since 29th May. WIF was hovering around a vital $2 support level at press time, after surging by 34% since hitting its all-time low.
This suggests a possible trend reversal. The price point has become a battleground for bulls and bears, with the outcome likely to determine short-term price direction. The bullish momentum from this significant surge has pushed the WIF price above the descending trendline that has acted as a resistance level since 29th May. This could signal a shift in market sentiment, potentially attracting more buyers.priced WIF at $2.05, a 2% increase in the last 24 hours. Its market capitalization has surged by 2.04% to $1.99 billion over the last 24 hours.
The stochastic RSI indicates a neutral zone while approaching an overbought zone. The MACD indicator shows a neutral sign. This suggests that the market is in a “wait and see” situation.According to Santiment’s data, a spike in trading volume has accompanied the recent price surge. This increased activity suggests growing interest from investors, potentially fueling further gains.
Additionally, the percentage of stablecoin total supply held by whales has spiked by 53.74%. This suggests an increase in the number of big holders who are observing the market for potential entries. This may impact the market and price direction.AMBCrypto’s analysis of the long and short ratio data on Coinglass showed mixed sentiment among traders. The fluctuating ratio indicates that the market has no clear direction, with bullish and bearish sentiment alternating frequently.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
WIF price drops by 34%: Can bulls defend the critical $2.08 support?Dogwifhat [WIF] may be poised for a rebound as it falls toward the lower line of its descending channel. The popular dog-themed meme...
Read more »
34 Genius Gadgets That Will Make Your Everyday Tasks So Much EasierWe've search high and low to unearth 34 tech gadgets that are more than just cool – they're downright genius.
Read more »
34 Tech Hacks to Streamline Your Day and Make Life a BreezeWe've search high and low to unearth 34 tech gadgets that are more than just cool – they're downright genius.
Read more »
34 Tech Finds That Will Make You the Envy of All Your FriendsWe've search high and low to unearth 34 tech gadgets that are more than just cool – they're downright genius.
Read more »
34 Super Cool Tech Gadgets That Aim To Make Your Life A Little EasierWe've search high and low to unearth 34 tech gadgets that are more than just cool – they're downright genius.
Read more »
BC government announces 34 new transitional units for Prince GeorgeHarmony House has 22 transition beds and 12 second-stage housing units for women and gender-diverse people who are at risk of, or have experienced, intimate partner violence in Prince George and surrounding area, and their children. Occupancy is expected to be complete by mid-July 2024.
Read more »