The post Dogwifhat (WIF) flashes a bullish signal, Eyes on 35% rally appeared on BitcoinEthereumNews.com.

WIF could soar by 35% to hit the $2.10-level in the future On-chain metrics revealed that 80% of top traders on Binance held long positions, while 20% held short positions Dogwifhat (WIF), a popular memecoin on the Solana blockchain, has been showing signs of a potential comeback after forming a bullish price pattern on its daily chart. In fact, the last few weeks have not been favorable for WIF holders, with the altcoin recording a price drop of over 70% since November 2024. Factors supporting Dogwifhat (WIF) for the bull run However, considering the prevailing market sentiment, it appears that WIF could soon skyrocket. The factors supporting WIF’s positive outlook include bullish divergence, rising interest from traders, Solana’s recent gains, and its massive adoption. Dogwifhat (WIF) technical analysis and price prediction According to AMBCrypto’s analysis, WIF formed a bullish divergence on the daily timeframe at a crucial support level of $1.30. Historically, this support level has been favorable for WIF, as it has recorded significant price surges from over here.  Source: TradingView Since August 2024, the meme coin has hit this support level more than four times. And each time, it has seen some impressive upward momentum. Apart from the bullish divergence, the meme coin appeared to be consolidating within a tight range between the $1.345 and $1.50 levels. Based on its recent price action, if WIF breaks out of this consolidation and closes a daily candle above the $1.52-level, there is a strong possibility it could surge by 35% to hit the $2.10-level in the future. Traders’ rising interest in WIF Observing the bullish price action, it would seem that intraday traders have shown strong interest and confidence in the meme coin, as reported by the on-chain analytics firm Coinglass. At the time of writing, WIF’s long/short ratio stood…

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Filed under: News - @ January 25, 2025 5:17 am