WIF consolidates between $2.20 and $2.55

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 managed to find support just below our Yellow buy box ($2.00 to $2.20) at the main horizontal support level of $1.96.
• Price has bounced from the main horizontal support and is now broken back above the local downtrend line.
• Price was initially rejected at the next horizontal resistance at $2.50 and $2.55.
• Price is now consolidating between $2.20 and $2.55. The lower end of this range is likely still a good buy considering the environment it looks like we'll be moving in to.
• The RSI on WIF is in the middle territory, so it is still nowhere near overbought, and it is coming off of nearly oversold levels. The RSI won't be a headwind for further price upside here positive.

• Next Support: $2.20
• Next Resistance: $2.55
• Direction: Bullish
• Upside Target: $2.55 (to $3.05 upon breakout)
• Downside Target: $2.20

Cryptonary's take

We'll just start with this straight out of the gate. Out of all the major meme's, WIF currently looks the most attractive price wise. Whilst we're still expecting some range-bound price action between $2.20 and $2.55, we expect $3.05 to be quickly achieved upon a breakout of $2.55. We would be buyers of the bottom end of this range at $2.20.