Dogwifhat Price Prediction: WIF Soars 9% As This Solana Layer-2 ICO Blasts Past $18M

The Dogwifhat price has soared 9% in the last 24 hours to trade at  $0.8321 as of 4:00 a.m. EST on a 47% plunge in trading volume to $446 million.

Dogwifhat Price Eyes Potential Rebound Within A Channel

The WIF/USDT daily chart shows that the WIF price is currently testing a critical support level around $0.80, which aligns with a double-bottom formation. This support zone is significant as it can trigger a bullish reversal if it holds.

For the past few months, WIF/USDT has been trading within a well-defined bearish channel characterized by lower highs and lower lows. However, the ongoing retest of the major support zone suggests that sellers might lose momentum. If the price successfully rebounds from this level, the first key resistance to watch is $1.00, followed by $2.32 and $2.77.

A breakout above these levels could drive the price toward the $3.00 – $3.50 range, confirming a trend reversal.

WIFUSD Analysis Source: TradingView

The Relative Strength Index (RSI), currently at 25.98, indicates that the asset is in oversold territory, which historically signals a potential buying opportunity. The RSI signal line at 29.79 further supports the possibility of a bullish recovery. If buyers step in and push the price above the $1.00 resistance, it would likely confirm a shift in momentum, attracting more investors.

On the downside, selling pressure could intensify if $0.80 fails to hold as support, leading to a decline towards the $0.50 – $0.60 range. This would extend the bearish trend and invalidate the reversal setup. However, given the oversold RSI and strong historical support, the probability of a bullish rebound remains high.

The key level to watch is $1.00. A breakout above this level could signal a trend reversal, while failing to hold support at $0.80 may lead to further downside. Traders should closely monitor price action and volume for confirmation before taking positions.

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