The post Dogwifhat (WIF) poised for 20% rally after finding support at $1.80 appeared on BitcoinEthereumNews.com.

On-chain metrics revealed that crypto exchanges have seen outflows of $15.9 million  Despite long-term holders’ interest, intraday traders appeared hesitant to build new positions Dogwifhat (WIF), the popular Solana-based memecoin, has been showing signs of potential recovery after recording a price drop of +32% over the past week. Meanwhile, other major assets, including Bitcoin (BTC), Ethereum (ETH), and XRP, have struggled to gain some momentum, with each one of them at the risk of another price decline.  WIF’s price momentum At press time, WIF was trading near $1.85, having recorded a price decline of over 3.10% in the last 24 hours. However, during the morning trading hours, the decline was significant. And, rising traders’ interest and confidence helped the memecoin recover from $1.80 to the $1.85-mark. Despite this recovery, traders and investors remain cautious though. In fact, this caution has resulted in a 16% decline in trading volume during the same period. Dogwifhat (WIF) technical analysis and key levels According to AMBCrypto’s technical analysis, WIF appeared bullish as it recently found crucial support at the $1.80-mark and started moving in an upward direction. In addition to the support, the memecoin formed a descending triangle price action pattern on the daily timeframe and seemed poised for a breakout. Source: Trading View WIF price prediction Based on its recent price action, WIF was trading within a narrow range of the pattern at press time. If it breaches and closes a four-hour candle above the $1.945-mark, there may be a strong possibility that it could soar by 20%, hitting the $2.32-level in the near future. On the positive side, WIF’s Relative Strength Index (RSI) seemed to be below the overbought zone – A sign of a potential price recovery. However, WIF’s bullish outlook will only remain valid if it breaks out of the…

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Filed under: News - @ December 28, 2024 9:18 pm