he fall in Dogwifhat (WIF) formed support
On the day timeframe chart, the past price structure displayed a tremendous 1101% advancement in WIF price from $0.389 on February 26th, 2024, to $4.820 by March 31st, 2024.
However, the peak formed instability in Dogwifhat (WIF) price and developed support at the level of $2.3119 after dipping to $1.96 by April 13th, 2024, which appears to be the volume profile level based on the significant high volume present at that level.
Thereon, the price tried to advance on several attempts but created an upward wedge instead. After it peaked at $4.08 on May 29th, 2024, it deteriorated majorly, shooting a breakdown by resonating with BTC.
The fall in Dogwifhat (WIF) formed support at $1.497, which looks critical at the time of writing, as it has consecutively tried two times to break past the volume profile tool-based $2.3119 level.
If the price breaks the VP, the resistance would be $3.02 and $4.08. failure to do so could lead back to $1.497, and knocking that could lead to a $1.01 mark.
Indicators-wise, the histogram in MACD looks to be growing above zero at 0.06645, while RSI has taken a jump from 14-SMA of RSI, as of writing flashed at 55.74. Meanwhile, the price of WIF has breached the 50-day EMA on a micro-level from below, but for its price to fly, it needs a higher momentum to break past both the VP and dynamic resistance of the 50-day EMA band, respectively.
However, the peak formed instability in Dogwifhat (WIF) price and developed support at the level of $2.3119 after dipping to $1.96 by April 13th, 2024, which appears to be the volume profile level based on the significant high volume present at that level.
Thereon, the price tried to advance on several attempts but created an upward wedge instead. After it peaked at $4.08 on May 29th, 2024, it deteriorated majorly, shooting a breakdown by resonating with BTC.
The fall in Dogwifhat (WIF) formed support at $1.497, which looks critical at the time of writing, as it has consecutively tried two times to break past the volume profile tool-based $2.3119 level.
If the price breaks the VP, the resistance would be $3.02 and $4.08. failure to do so could lead back to $1.497, and knocking that could lead to a $1.01 mark.
Indicators-wise, the histogram in MACD looks to be growing above zero at 0.06645, while RSI has taken a jump from 14-SMA of RSI, as of writing flashed at 55.74. Meanwhile, the price of WIF has breached the 50-day EMA on a micro-level from below, but for its price to fly, it needs a higher momentum to break past both the VP and dynamic resistance of the 50-day EMA band, respectively.
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