dogwifhat signals uncertainty – Can WIF bulls regain control above $1?

• The higher timeframe price action of WIF was bullish.
• Seller dominance over the past three weeks cast doubts on the memecoin’s bullish conviction.

dogwifhat [WIF] appeared to present a buying opportunity. Despite the selling pressure and lack of momentum in the past three weeks, the weekly chart inspired confidence.

Investors should remain patient, and a breakout past $1 and $1.2 could still materialize.

This weekly FVG was an important demand zone. Over the past three weeks, the memecoin faced resistance at $1.2-$1.3 and reverted to this demand zone.

The recent price action showed dogwifhat bears were forced to respect this FVG and couldn’t drive prices lower.

The OBV also signaled steady buying pressure behind WIF, but this picture changed on the lower timeframes.