The post dogwifhat: Is WIF’s downtrend over? THIS metric suggests… appeared on BitcoinEthereumNews.com.

WIF could soon rebound as the TD Sequential indicator presents a buy signal. The recent surge in the Whale Index suggested that whales are starting to accumulate WIF. The cryptocurrency market, with its inherent volatility, often presents opportunities for traders who understand the underlying technical indicators. Recently, dogwifhat [WIF]  has had key signals pointing to a potential price rebound. Signs of momentum shifting for WIF Analysis from the 1-hour chart shows a dip in WIF’s price, followed by a slight recovery. This price action shows that the asset is testing its support levels, with the RSI at 14 indicating an oversold condition. Source: Coinglass Such conditions frequently precede price rebounds. Furthermore, the MACD is showing a bullish crossover, which is a classic sign of a potential uptrend. The RSI’s oversold condition and the MACD crossover suggest that WIF might be ready for a price rebound, aligning with the broader bullish sentiment. TD Sequential’s buy indicator The TD Sequential indicator on the 12-hour chart has flashed a buy signal for WIF, a notable development. The TD Sequential is known for identifying exhaustion points in a trend. Source: X A buy signal on a longer timeframe, such as the 12-hour chart, is particularly significant as it indicates that the downtrend may be nearing its end. This aligns well with the price action analysis that suggests a shift in momentum. This is a clear indication of a potential rebound, reinforcing the expectation that $WIF might soon experience an upward movement.  Positive shifts in buying pressure Further analysis shows that the Funding Rate for WIF is slightly negative, indicating shorts are paying longs. This suggests market sentiment leans toward expecting a price increase as traders balance positions. Additionally, the bid-ask delta shows positive spikes, indicating increased buying pressure. This buying pressure, coupled with the…

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Filed under: News - @ February 15, 2025 12:27 am