WIF eyes $2.20 reversal soon

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 has had a bounce from the lows, and the price is now moving into the old demand zone between $1.80 and $2.00.
• Note there is a horizontal resistance at $1.96 ($2.00).
• The key level for the price to reclaim to trigger the bullish reversal is $2.20.
• The RSI is breaking out of its downtrend line, having put in a bullish divergence in oversold territory. However, it is now going to put in a hidden bearish divergence (lower high in price, higher high on the oscillator). Just something to keep an eye on for now.

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• Next Support: $1.60
• Next Resistance: $1.96
• Direction: Neutral/Bullish
• Upside Target: $2.20
• Downside Target: $1.60

Cryptonary's take

A reclaim of $2.20 would trigger the bullish reversal for WIF. But for now, it looks to just be a relief rally despite the market feeling euphoric today. WIF might move more substantially upon a SOL breakout which might come if Trump is overly positive next week.

However, don't close the possibility that this is just a relief rally on WIF for now in the short term. This may be the start of building out a base to go higher at a much later date, but it doesn't mean the lows can't be retested again. Just be open-minded. Let's see what happens.