The post WIF’s $3.80 target: Is $2 the perfect entry point, or should you buy in now? appeared on BitcoinEthereumNews.com.

WIF’s price has been strategically capped at $3.80, a level where both big and small players are quick to exit. The key to breaking through this barrier lies in one of two conditions. One month ago, dogwifhat [WIF] exploded with a massive 30% surge, hitting $4.83 in a single day – the longest green candlestick in its history. However, just as it seemed ready to break its all-time high, a sharp correction took it back to $2.90, proving how unpredictable memecoins can be. While investors have taken a hit, the story isn’t over yet. A deeper pullback to $2.00 might seem like a tempting entry point. However, AMBCrypto’s analysis suggests that WIF could stage a comeback, but only if bulls play their cards right. How a long squeeze has cost WIF a new ATH? As the saying goes, timing is everything in crypto—and WIF bears have certainly proven it. After a massive 30% surge in a single day, pushing WIF near a new all-time high, the RSI hit overbought levels. Interestingly, this coincided with Bitcoin’s[BTC] first close above $90K during the “Trump pump,” sparking real panic among investors. The result? While Bitcoin dipped by 3% the following day, WIF endured a sharp fourfold decline in comparison. Since then, the bulls have made multiple attempts at a rebound, but the $3.80 resistance level remains firmly in place. Why? Two main factors are at play: First, the market’s volatility is dragging memecoins, like WIF, into the red, as the allure of quick, high-reward gains grows more enticing. Second, big players are cashing out as FOMO fades, unloading their positions before the market takes another turn. Together, these forces are keeping WIF’s price capped. As a result, each time WIF nears that key price point, a massive liquidity cluster of long positions liquidates,…

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Filed under: News - @ December 13, 2024 11:18 am