DOGWIFHAT PRICE ANALYSIS & PREDICTION (March 29) – WIF Breaks Higher: Tests $4 After Surging 60% Weekly

2024-3-29 14:43

Bouncing back from a slight correction mode, WIF resumed bullish and broke out to a new high a few hours ago. The price is up by 30% since yesterday, making it the top gainer of the market at the time of writing.

During the past weeks of drops, Dogwifhat corrected by roughly 30% in a week and later wicked at the $2 level. It held well above that price level and initiated a fresh buy after remaining indecisive for two days.

The price closed significantly above the $2.7 level last week and flipped a minor resistance line this week. Yesterday saw the meme coin through the major break above $3.56 – the previous high to a new one at $4 today – marking its highest price level so far. More highs are expected in the coming days.

However, it has rejected this daily high and has retraced to a trading level of $3.77 at the time of writing. That rejection could lead to a quick retest of the previous high – on the lower timeframe – before resuming the rally.

Right now, there is no room for selling on the daily chart. In case of a dip, the recent bounce level is the key support to keep an eye on. Interestingly, it remains the best-performing coin on the Solana ecosystem with the highest traded volume in the past 24 hours.

WIF Key Levels To Watch Source: Tradingview

Flipping through $4 in the ongoing surge, the next potential resistance level for a test would be $4.5, followed by $5 and $5.5 in the near term.

As WIF aims to retest the $3.65 level as support, the lower supports to consider for a broader pullback are $2.75 and the crucial $2 level. A crackdown from there could plunge the price to $1 before rising back.

Key Resistance Levels: $4.5, $5, $5.5

Key Support Levels: $3.56, $2.75, $2

Spot Price: $3.7 Trend: Bullish Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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Image Source: bizoon/123RF // Image Effects by Colorcinch

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