Dogwifhat (WIF) Remains Largely Caged - learn2trade
Login

Dogwifhat (WIF) Remains Largely Caged Under Strong Bearish Sentiment

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more



The Dogwifhat token has appeared in the second spot on today’s list of top crypto movers.  This is despite the fact that the magnitude of its price increase is small.  As a result, the market remains under strong bearish influences and may fall below key levels.

Dogwifhat Statistics

WIF Current Price: $0.524

Market Capitalization: $503.85M

Circulating Supply: 998.84M

Total Supply: 998.84M

CoinMarketCap Rank: 103

Key Price Levels

Resistance: $0.600, $0.800, $1.000

Support: $0.500, $0.400, $0.300

WIF/USDT Buyers Seem Cautious Buyers in the Dogwifhat daily market continue to record minor gains.

WIF/USDT Buyers Seem Cautious

Buyers in the Dogwifhat daily market continue to record minor gains. This may be due to technical and fundamental factors causing traders to remain cautious. The latest price action on the chart has just surpassed the 20-day Moving Average (MA) line. The corresponding price candle is small but still hints at some positivity in the market.

Meanwhile, the Stochastic Relative Strength Index (RSI) lines are pointed upward in the overbought region. Consequently, this suggests that upside momentum is unlikely to sustain control of price action for much longer. Coupled with the fact that price action remains below most of the MA lines, the market is not yet ready for a significant move.

WIF/USDT Buyers Seem Cautious Buyers in the Dogwifhat daily market continue to record minor gains.

Dogwifhat Sticks to Little Gains

Low bullish momentum extends to the WIF 4-hour market. Here, we can see that price action has continued upward but at a minimal pace.  However, price action has risen above three of the four MA lines on the chart.  The latest price action appears green but remains relatively small.  Nevertheless, it keeps the market above the 20-, 50-, and 100-day MA lines.

Additionally, the Stochastic RSI lines are already in the overbought region, revealing that price action may not proceed much further upward. Therefore, targeting the $0.566 price level may be a reasonable expectation.

Make money without lifting your fingers: Start trading smarter today

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News