Market Direction

WIF eyes $3.40, $4.00 next

Published: Nov 12, 2024

WIF is holding steady at around $2.70 in support, with eyes on a $4 target. DOGE and BTC also demonstrate upside momentum, creating exciting potential in the crypto space. Here’s what to watch for

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.

A really nice move from WIF and getting back well into the $3's.
To the downside now, we'd like to see the $2.70 to $2.80 area hold as support. A pullback to here and a price to consolidate between here and $3.20 would also reset the RSI.
To the upside, the target is $3.40 and then $4.00 (psychological level).
It's possible that if there is a flush out, WIF will revisit $2.55. If it did, we'd see this as a gift and add it again to our WIF bags.

7. WIF price chart showing price movements with support and resistance levels, highlighting a potential breakout above 3.40.

Next Support: $2.70
Next Resistance: $3.40
Direction: Bullish
Upside Target: $3.40 (and then $4.00)
Downside Target: $2.55 to $2.70

Cryptonary's take

It's possible that WIF has a brief spell of consolidating between $2.70 and $3.20 over the coming days as we expect the majors to do the same. However, this might be front run and we see Meme's break out upon a period where Bitcoin calms down. If price revisits anywhere close to $2.50, we'd be adding more size.

We've seen DOGE rocket higher, and put on about $30b in MCap over the last fortnight - WIF is currently sub $3b MCap, for some perspective. This has personally made myself (Tom) revise my WIF targets much higher. We expect that when retail comes back, the new coins will get major attention, and therefore upside. Patience with WIF. Likely we're at $5 and then $10, sooner than you think.