Dogwifhat (WIF), which lost 64.14 %in the last month, is in a strong downward trend. Breast Coin investors should be careful in February 2025. According to technical analysis, the critical price zones are as follows…
Dogwifhat (WIF) decline deepens
Dogwifhat entered a decline trend after rising to $ 1.9 last month. During this time, the price continued its downward movement by creating lower peaks and bottoms.
As of now, the WIF is trading at $ 0.6153 and has decreased by 7.33 %on a daily basis. It depreciated by 10.63 %and 63.14 %on a weekly and monthly basis, respectively.
When we look at the current situation of the market, the decrease of WIF may continue if the bears maintain their domination. But the real question is: Are the sellers still strong, or are the sales pressure decreasing?
WIF Price Does it fall even more?
According to technical analysis, WIF is under strong sales pressure and under the control of market bears. The Stoch RSI (Stoch RSI) confirms that the downward momentum increases. This shows that the WIF is experiencing more losses and the likelihood of recovering is weak. Technical indicators also support the decline:
- When DMI (directional motion index) is examined, the negative direction index (DI-) increased to 43.3 %, and the positive direction index (DI+) decreased to 13 %.
- ADX’s high shows that the trend protects the power.
- Delta Metric has remained negative for the last few days. The negative of Delta shows that sales pressure is overweight than the exchange and the downward trend can continue.
Investor confidence is decreasing
Dogwifhat’s open position (Open Interest – OI) volume fell from $ 89 million to $ 67 million in a week. This decrease in open positions shows that existing investors have closed their positions and that new investors refrain from entering the market. This indicates that investors’ market expectations are negative.
The WIF is currently testing a critical support zone at $ 0.61. If the price cannot be held at this level, the price may decrease to $ 0.50 and $ 0.44, respectively, seeing the lowest levels of the year. However, if the price remains above $ 0.61, the market is likely to make a upward turn. For this, buyers need to return to the market with voluminous purchases.
To be aware of last -minute developments Twitter ‘ in, Facebookin And Instagram follow and follow Telegram And Youtube Join our channel!
