Dogwifhat (WIF) Defends Support, Eyes Major $0.95 Upside Move

Dogwifhat (WIF) is currently trading at $0.3843, up 1.68% over the last 24 hours. The price has moved slightly higher during the day, showing a small push from buyers. Even with this rise, the overall move still looks controlled and not too aggressive.

Meanwhile, the trading activity reduced. The 24-hour trading volume fell to 16.77% and currently stands at $70.75 million. The coin price has increased 0.7% over the past week, which has maintained its weekly trend with a small margin.

Source: CoinMarketCap

WIF Eyes $0.475–$0.480 Resistance After Trend Reversal

Analyst Crypto VIP Signal highlighted that WIF has reversed its downtrend channel, and it is currently trading sideways. The analyst indicated that there was a point of $0.35 that buyers could add when buyers resume buying at that level. The closest resistance area is at the level of $0.475-0.480. That area will continue to be the focus of any continuation efforts.

Source: X

Moreover, another analyst, Whales Crypto Trading, mentioned that WIF is about to break out of a falling channel in the 12-hour chart. The break above the resistance can lead the price to $0.95. The graph underlines a neutral-positive tone. There has been no significant reversal signal.

Source: X

Also Read: Litecoin (LTC) Holds $74 Support Zone as Analyst Targets $285

RSI and MACD Show Balanced Momentum

From a technical perspective, the RSI stands at 53.10, with a signal line of 57.30. RSI is not below the midpoint and is a sign of consistent purchasing activity. There is no apparent excessive pressure in the reading. It is an indicator of a balanced environment where more shifts can be made.

MACD is positive with a slight margin. The MACD line is 0.011, the signal is 0.009, and the histogram values are in the 0.002 range. The position displays weak momentum without acceleration. It affirms that WIF is not in aggressive motion, but it still is in place.

Source: TradingView

WIF Sees Reduced Volume Alongside a Build-Up in Open Interest

According to the CoinGlass data, the trading volume declined by 26.94% to $165.61 million. The fall refers to weaker involvement in the last session. It also indicates that traders are restricting short-term activity despite recent price stability.

The open interest has increased by 5.40% to a high of $149.54 million. The growth indicates new positioning by derivatives traders, despite a reduction in volume. The WIF OI-weighted rate of funding stands at 0.0015% with a weak long bias and no overleverage.

Source: CoinGlass

The market structure is stable. Price action is above that of support, and the signs demonstrate controlled momentum. According to analysts, there are clear levels of resistance and trend breakouts. The data is consistent with a measured period, contrary to a sharp rally.

Also Read: XRP Whales Accumulation Signals an Explosive Price Rally Above $9-$10 Range