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Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Dogwifhat Targets New Peaks As WIF Exceeds $2.1 Resistance Level

Godspower Owie
Godspower Owie
1 year ago
2 mins read
WIF

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Dogwifhat (WIF) has recently achieved a significant milestone by breaking through the $2.1 resistance level, generating bullish sentiment among market analysts. This pivotal breakthrough indicates potential for further upward movement and new highs. 

Analysts are optimistic about WIF’s prospects, forecasting continued strength and momentum in the market. As WIF surpasses this critical threshold, investor interest is expected to rise, driving further gains and positioning the asset for sustained growth. 

This article analyzes the recent bullish sentiment among analysts as WIF breaks through the $2.1 resistance level. It also seeks to explore the implications of this breakthrough, including potential future price targets and market behavior.

Currently, the market capitalization of WIF is over $2.2 billion, with a trading volume of over $421 million. The cryptocurrency’s price is currently down by 1.68%, trading at roughly $2.26, with its market capitalization down by 1.52%, while its trading volume is up by over 2% in the past day.

Analyst Sentiment: Optimism Surrounding WIF

On the 4-hour chart, the price of WIF is actively bullish trading above the 100-day Simple Moving Average (SMA). As of the time of writing, the price is attempting a retest on the $2.1 mark. Following a retest at this level, WIF is expected to resume its upward movement.

WIF
Source: WIFUSDT on Tradingview.com

The 4-hour Composite Trend Oscillator suggests that WIF might move in a consolidation manner for a while before resuming its upward movement as the signal line appears to be moving below and above the SMA of the indicator.

Meanwhile, on the 1-day chart, the price of WIF is still actively trading below the 100-day SMA and is making a pullback toward the $2.1 mark.

WIF
Source: WIFUSDT on Tradingview.com

From the formation of the 1-day Composite Trend Oscillator, it can be observed that the price of  WIF may go bullish as the signal line has made a cross above the SMA of the indicator, and they are both moving out of the oversold zone towards the zero line.

Future Scenarios For WIF’s Growth

As of right now, WIF’s price is making a pullback to the $2.1 mark. If the price experiences a rejection at this level, it will begin to move upward toward the $3.58 resistance level. Furthermore, a break above this level may trigger WIF to move higher to test the $4.86 resistance level and possibly move on to test other higher levels.

However, if the price of WIF breaks below the $2.1 mark, it will continue to decline towards the $1.47 support level. The crypto asset may pose a further decline toward the $0.71 support level and other lower levels if the $1.47 support level is breached.

WIF
WIF trading at $.2.23 on the 1D chart | Source: WIFUSDT on Tradingview.com
Featured image from Binance, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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