Market Direction

Dogwifhat eyes $2.55 target

Published: Oct 28, 2024

WIF eyes $2.20 support with a $2.55 upside target. Will Dogwifhat bounce back or test new lows? Here’s today’s WIF price prediction and analysis.

Disclaimer: This is not financial or investment advice. You are responsible for any capital-related decisions you make, and only you are accountable for the results.

WIF broke out of it's major downtrend line, and then pushed up to $3.00 before beginning a local downtrend, that has sent WIF back to the low $2.00's.
There are a lot of supports between $2.00 and $2.20, which is also where we have our Yellow Buy Box. If WIF revisits this box, we'll add to our bags.
On the downside, $2.00 to $2.20 is the major support zone we're looking for.
To the upside, $2.55 is the key level to reclaim, with $3.00 being the level beyond that.
This move down over the last fortnight has meaningfully reset the RSI which is positive to see.

7. Chart showing dogwifhat price movement with support, resistance levels, trendlines, and RSI, suggesting potential consolidation and breakout points.

Next Support: $2.00 - $2.20
Next Resistance: $2.55
Direction: Neutral
Upside Target: $2.55, then $3.00
Downside Target: $2.00 - $2.20

Cryptonary's take

Charting-wise, WIF still looks good here, even if it pulls back to $2.00 to $2.20; we'd just see this as a healthy retest. We do believe that in the coming week, WIF can more meaningfully fill the Yellow Buy Box. We'll be buyers in this area, as we'd expect that to potentially be a local bottom, especially if we get a Trump win next week.