Navigating the next moves of WIF and POPCAT

• For WIF, the technical indicators tell a story of resilience and potential rebounding from recent lows, but a journey back to significant highs is still fraught with hurdles. 
• POPCAT, on the other hand, is at a critical juncture, squeezed between key support and resistance levels. 

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. 

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WIF

• WIF doesn't look too positive from a TA perspective here. 
• Following the break below the $1.50 to $1.60 zone, WIF rebounded from the late $1.30s and is now running into local resistances of the underside of the local uptrend line and the $1.60 area.
• In order for WIF to see a more sustained upside, it will need to reclaim above $1.90, which we don't expect in the immediate term.
• We do note that the price is moving closer to the local downtrend line, which could help the price break out higher in the coming week or two. 
• On the downside, the $1.20 to $1.37 zone (range) should act as support if the price pulls back substantially again. 

For an in-depth look at market performance, see our analysis on dogwifhat (WIF).

Cryptonary's take

While price here looks attractive if you have a long-term perspective, we're also not ruling out a retest of the $1.30s in the coming month. A retest of $1.20 to $1.37 would be a strong buy zone for us, with a view to holding for the next 6-9 (maybe even 12 months). 

For now, we're remaining concentrated in our portfolio and still really like WIF for the long term. The key to the next month or so will be just riding out the volatility and not getting cut up by it, and in the meantime, continuing to add towards the low end of the ranges.

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POPCAT

• This is a complicated chart, so let's break it down. Our focus is on the horizontal lines (supports and resistance) and then the uptrend and downtrend lines.
• POPCAT has pulled back to the low $0.50s and found local support there. It's also holding its local uptrend line (yellow dotted line). 
• Above the current price is the $0.66 horizontal resistance. However, price may be able to break above this resistance upon a breakout from the local downtrend line (red dotted line). Price is currently squeezing into the pinpoint where the downtrend line and uptrend line meet. 
• If price were to break below the horizontal support of $0.53 and the local uptrend line, then price could end up retesting $0.40.
• To the upside, a break above $0.66 is key for a retest of the highs at $0.77. 

Cryptonary's take

Price is likely at an inflection point here as it squeezes into the pinpoint between the uptrend line and the downtrend line whilst also being compressed between the horizontal support at $0.55 and horizontal resistance at $0.66. POPCAT (and the rest of the market) may likely be pushed around by the jobs data tomorrow. If the data is positive (and we're expecting it to be), price could break out to the upside in the immediate term. However, over the coming weeks/month, we expect the market to trade slightly lower; this may open the door to $0.40 in the coming weeks/month.

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