WIF breaks downtrend, targets $3.05 resistance next

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 has broken out of the main downtrend line and is comfortably above what was previously a major resistance zone between $1.96 and $2.20.
• We had seen a bearish divergence (higher high in price and lower high on the oscillator) form in overbought territory, but that has reset somewhat now.
• To the downside, we'd expect $1.96 to $2.20 to act as a major support zone.
• To the upside, $3.05 is the next major horizontal resistance.

• Next Support: $2.20
• Next Resistance: $3.05
• Direction: Bullish
• Upside Target: $3.05
• Downside Target: $2.20

Cryptonary's take

WIF looks good to go higher here. If the wider market holds up well, we'd expect to see WIF at $3.05 sometime in the coming 7 days.