2 Actions To Take As 2 Major Reversal Patterns Set WIF Rally For $4
The post 2 Actions To Take As 2 Major Reversal Patterns Set WIF Rally For $4 appeared on BitcoinEthereumNews.com.
Dogwifhat Price Analysis: The cryptocurrency market entered July on a bullish note as Bitcoin jumped 2% on Asian Trading hours to hit $63880. The renewed buying pressure has uplifted altcoins to a fresh relief rally with the meme coins leading in growth due to their volatile nature. Dogwifhat, the Solana-based memecoin, has emerged as one of the top gainers, experiencing an 11.5% surge in the last 24 hours. This upward movement indicates a potential reversal pattern, setting the stage for a higher rally. Also Read: Breaking: German Govt Dumps 400 BTC To Major Exchanges, Transfer Spree Continues Dogwifhat Price Analysis: Key Indicators Signal Major Reversal Dogwifhat Price Analysis| Tradingview The easing supply pressure in the crypto market after Bitcoin’s reversal from $60000 has bolstered several altcoins to form the local bottom. Dogwifhat clearly shows this phenomenon in a 4-hour chart as the price reverted immediately from the $1.478 mark. Within a week, the bullish upswing propelled WIF by 48.83% to reach the $2.19 trading price, while the market cap surged to $2.2 Billion. A deeper analysis of the technical chart shows the V-shaped recovery develops an inverted Head & Shoulder pattern. In theory, this chart pattern is commonly spotted at major bottoms as an early sign of trend reversal with new higher low formation. With an intraday gain of 4%, the Dogwifhat coin teases a bullish breakout from the pattern’s neckline resistance around $2.3. An upside breakout with a 4-hour candle closing will provide buyers with suitable support to lead a sustainable recovery. Also Read: Cryptos To Buy On This 1st July To Stay Bullish Throughout Month Daily and 4-Hour Chart Pattern Signal Bullish Trends for WIF Dogwifhat Price Analysis| Tradingview An analysis of the daily chart shows the June market correlation and recent recovery assisted WIF prices to develop…
Filed under: News - @ July 1, 2024 5:14 pm