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.
- In our last update, we called that WIF might pull back and retest the grey box between $2.84 and $2.97. We have now had that retest.
- WIF was rejected at the horizontal resistance of $3.40 a number of times and couldn't seem to surpass it, so that's the next major market for WIF to clear above.
- If WIF loses the grey box, then the next area is $2.55. However, we expect the grey box to hold for WIF.
- On the move down in price, the RSI reset substantially, having been majorly overbought.
- Next Support: $2.85
- Next Resistance: $3.40
- Direction: Neutral
- Upside Target: $3.40 (then $4.00)
- Downside Target: $2.85
Cryptonary's take
WIF is now listed on major Exchanges, which is a huge plus for this coin. We expect this to be the major winner of this cycle, with it being the number 1 SOL meme. The grey box is and was the area for those to accumulate who may be underweight WIF. We expect there to be more chop over the coming days, but we think WIF has done the majority of its pullback here.Overall, we're extremely optimistic about the outlook for WIF, so we're not looking to sell Spot holdings anytime soon.
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