Derived from BeInCrypto, Dogwifhat (WIF) has experienced a significant price correction, dropping approximately 11% in the last 24 hours. This follows a remarkable 1386% gain earlier in the year. The current bearish trend is highlighted by momentum indicators such as the Ichimoku Cloud and ADX, which show sellers dominating the market. The price has broken below key Ichimoku components, indicating strong downward momentum. The ADX, now at 38, suggests a strengthening bearish trend. WIF's EMA lines also reflect a bearish configuration, with short-term EMAs below long-term ones, pointing to continued downward pressure. The price is likely to test the support level at $2.19, with potential further declines to $1.88 if this support fails. Conversely, a reversal could see WIF challenge resistance at $2.91, with further gains possible if the uptrend strengthens.
WIF Faces 11% Decline Amid Bearish Trends, Key Support at $2.19
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