Technical Signals Suggest Bullish Momentum for WIF
The recent crypto market surge following Jerome Powell’s indications of potential rate cuts in September has led to a more than 10% increase for Ethereum (ETH), exceeding $4,750. This positive momentum has also spread to memecoins, including Dogwifhat (WIF).
Dogwifhat has gained 9% over the past 24 hours, and its chart now displays an optimistic technical structure, suggesting a continuation of the uptrend.
Strong Support Within a Consolidation Pattern
On the daily chart, WIF continues to consolidate within a symmetrical triangular formation, a classic pattern that often precedes a bullish breakout. After undergoing a 40% correction following rejection at its descending resistance line, WIF successfully tested its ascending support line near $0.79, where buyers stepped in.
From this level, the token has initiated a solid rebound and is now trading around $0.92. Crucially, WIF is approaching its 100-day moving average, a level of $0.9466 that could serve as a launching point for a new upward phase.
With a strong resistance zone between $1.06 and $0.90, Dogwifhat could consolidate for a few days in this area before experiencing a breakout. The next target sits around $1.40, above the bearish trendline that needs to be liquidated.
If bulls manage to reclaim and maintain position above this 100-day moving average, WIF could climb toward its descending resistance line near $1.24 before that, representing an upside potential of 35% from current levels.
How to Buy Dogwifhat (WIF) on Bybit?
With a 12H RSI still in the neutral zone, breaking through the $1.06 level could propel Dogwifhat toward the $1.40 zone afterward. This represents a potential increase of nearly 64% from its current price.
Here’s how to accumulate WIF before its bullish breakthrough:
- Create a Bybit account: Visit the official Bybit website and register with an email address or phone number. Complete KYC verification to access all features.
- Deposit funds: Log into your account and navigate to the “Deposit” section. You can deposit cryptocurrencies like BTC, ETH, or USDT, or use a credit card to buy crypto directly.
- Access the WIF market: In the “Trading” section, search for the WIF/USDT pair. Bybit offers both spot and derivatives markets for the token, depending on your strategy.
- Place a buy order: Select a market order for instant execution or a limit order to set a specific price. Indicate the amount of WIF you wish to purchase.
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