- WIF saw Baisse -Aart speed in recent days, but showed signs of starting to recover.
- The absence of buying volume can give Swing Traders break.
Dogwifhat (WIF) has started recovering from the last setback that struck the price from $ 1.12 to $ 0.85. This drop of 24% occurred for two days, when Bitcoin (BTC) went from $ 108,000 to $ 104,000 at the end of May.
Over the past 24 hours, BTC bounced from $ 103.8,000 to $ 106.5,000, a 2.5% motion. This gave room for Crypto market to recover some recent losses. At press time, Coinmarketcap -data revealed that the Memecoin sector gathered 3.1% over the past 24 hours.
This was a good start for WIF. Long -term buyers would be interested in the popular MemeAnd its market structure remained Hausse.
The momentum was Baisseart with the lower time frames, but traders can look for long positions.
WIF Reset offers buyers a chance to re -enter
Source: WIF/USDT on TradingView
The 1-day diagram showed a raisy oscillation structure for dogwifhat. It had formed an interval in March and April, and at press time remained above the high to $ 0.77. 20- and 50-day moving averages (MA) reflected haussearted speed.
The last dip tested almost 50-day MA as support and has started to recover. However, the volume of trade has decreased over the past two weeks.
The lack of purchase printing can cause a dungeon and a steady price decline.
It was unlikely that this would happen unless Bitcoin met a more serious correction and fell below $ 102.8,000. WIF retailers can use this dip to buy, with a stop loss below $ 0.76 level.
Source: WIF/USDT on TradingView
The 4-hour chart showed that the picture was not as rosy as on 1-day chart. The reduced trade volume in recent days looked a/D Indicate trend down towards the end of May. This was a hallmark of intense sales pressure.
Dogwifhat was forced to fall under a three -week old range (white) that extended from $ 0.93 to $ 1.21. At the time of writing, the MAs signaled that baisse -like speed was dominant.
The price tested the 50 period MA on the H4 diagram.
If it can regain this ma, a step towards the range would be more likely to be more likely. In this scenario, the low request zone would be a buying opportunity for swing dealers.
Disclaimer clause: The presented information does not constitute financial, investment, trade or other types of advice and are the author’s opinion solely
