Raibitcrypto

11/27 12:46

Dogwifhat Price Performance  The WIF price trend

Dogwifhat Price Performance 

The WIF price trend showcases a rounding reversal rally that is gaining momentum. Starting from the $1.262 mark, the high and low formation in WIF price has crossed the $3 psychological mark.

The recovery rally peaked at $4.797, but with the broader market correction, the meme coin is back at $3. It is currently trading at $3.13 and finds support from 78.60% Fibonacci level at $2.9845. 

As a retest, the WIF price trend is teasing a W-bottom reversal despite the long wake formation. The uptrend failed to sustain dominance above the $3.7733 or 100% Fibonacci level. 

Currently, the meme coin is consolidating between two crucial zones. A breakout on either side will decide the upcoming price trend. 

Technical indicators:

EMA: Providing dynamic support, the rising 50-day EMA is inching closer to the 78.60% Fibonacci level. 

MACD: The MACD indicator maintains a reclining trend with a surge of bearish histograms.

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