World of Charts participated in an insightful analysis about the potential price movement of the famous Mimi -Mei currency. According to their analysis, “WIF $ creates a falling spoiler and approaches a decisive resistance area, characterized by the level of direction resistance and a horizontal level. The collapse can pave higher than these levels for men #Wif easily $ 1 and may rise.”
Let’s go more in this analysis and understand what this technical preparation may mean for the price of WiF in the coming weeks.
The upcoming WiMe Meme coin style is formed
The graph he presented Plans It is clearly shown in the fall of the falling spoiler that is formed in the work of Dogwifhat. outbreak The pattern is widely recognized as a bullish reflection pattern in technical analysis. This style consists of two directions for a decline that is gradually converging. The upper trend line connects to the highest level we saw from late December to March, while the lower direction line connects a series of its lowest levels.
Convergence lines indicate a decrease in the pressure pressure with the maturity of the pattern. Technically, this means that the declining momentum weakens, and it may be created to reflect the ascension.
The current DogwFhat price position and the main resistance levels
It is important to note that the price of WiF is still inside the dress and has not yet exploded. After the formation of a local bottom near $ 0.30, DogwFhat wore a great deal and is now close to what the world of the plans describes as a “Great Contestation Resistance” region.
This critical area consists of two main elements: the top of the upper sphin trend and a horizontal resistance area of about $ 0.45, which served in support in early March before turning into resistance. This seems to be the “manufacturing or collapse area”-the collapse here can lead to the explosive upper trend movement of the WIF price.
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The levels of resistance specified for the initial resistance view include 1 at about $ 0.45, where WIF was previously rejected, initial resistance 2 at about $ 0.5, which represents the upper limits of the horizontal resistance area and align with the bodies.
A clean daily candle closed over the upper direction line of the bend pattern that would confirm the outbreak of the sorry. Until this happens, WiF remains in the range and a technician contestant inside the spacious pattern.
If the outbreak is confirmed, the World of Charts indicates that we can display the measured step using the height of the wedge. The height of the wedge is approximately 1.30 – 1.40 dollars. With an outbreak of about $ 0.45, an increase of 175 %, or about 2.75X step. This potential upward trend is what makes this technical preparation attractive for traders watching the WiM Meme.
Risk Management: The Wi -NF Thesis fails
If the price of DogwFhat collapses less than the local minimum of $ 0.30, the bullish spoiled pattern will be nullified. Such collapsing is likely to open the door for a deeper decline, and macro support may be tested at $ 0.20 or even less.
This balanced perspective explains a comprehensive technical analysis, as it recognizes the reward and potential risks in this preparation.
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Follow us X (twitter)and Coinmarketcap and Binance Square For more daily encryption updates.
Get all our future calls by joining A free telegram group.
We recommend etoro
The community of active users and social features such as news extracts, and chats to obtain specific metal coins available for trading.
A wide range of assets: cryptocurrencies along with other investment products such as stocks and traded investment funds.
Trading copies: It allows users to copy prominent traders trading, for free.
Easy to use: ETORO web platform on the web -based etoro and the mobile application is easy to use and easy to move.
