With the recovery in the crypto market, Dogwifhat (WIF) exhibits a strong price movement. Token, which gained 11.15 %on a daily basis, is traded at $ 0.6149. While the market value reaches 613.67 million dollars, the increase in transaction volume shows the interest of the investor. However, it remains unclear whether the rise is permanent without exceeding critical resistance levels.
Lock levels for WIF and rise scenario
The WIF, which rises to $ 0.6619 in the last 24 hours, is trying to exceed $ 0.6250. If it can exceed this level, the price may be possible to reach $ 0.6400 and $ 0.6500. However, the support level is at $ 0.6100. If this level is broken, the price may fall $ 0.6000 or below.
The RSI value shows that the market does not yet constitute a strong rise momentum. RSI’s exceeding 50 levels may indicate that bulls take control. On the other hand, the CMF indication indicates that the output of the market increases sales pressure at -0.30 and the market. The rotation of the CMF to the positive may support the rise.
Where is the price going?
In order for the WIF to maintain the upward movement, the resistance of $ 0.6250 needs to be exceeded. If the transaction volume increases and the CMF rotates to the positive, the band of 0.6400 – 0.6500 dollars can be tested. However, if the sales pressure may increase if it falls below $ 0.6100 and the price may hang below $ 0.6000.
WIF investors should pay attention to moving averages and volume indicators! If the resistance breaks, can a large rally be?
Critical moment for WIF! Investors should pay attention to this level
Although Dogwifhat (WIF) exhibits a strong price movement, investors are traded at critical levels that should be carefully monitoring. Unless the $ 0.6250 resistance is broken, the rise may be limited and sales pressure may increase. If the bulls exceed this level, the WIF can rise rapidly to $ 0.6500. However, if the lack of volume and momentum persists, the risk of sagging below $ 0.6000 may come to the agenda. Investors should closely monitor volume, RSI and CMF indicators to determine the direction of WIF. In particular, the RSI rise above 50 levels and the rotation of the CMF indicator into the positive, may confirm that the rise trend is strengthened. Otherwise, with the reduction of investor confidence, WIF may testing support levels and follow a wavy course.
