Dogwifhat’s Critical Support at $0.75: A Potential Reversal?
Dogwifhat (WIF) is currently testing a crucial support level at $0.75. This price point is important because it aligns with both the value area low and the 0.618 Fibonacci retracement.It’s a key zone for the coin’s market structure.
Recently, the price faced rejection at the point of control (POC), causing a retest of this vital support. However, a hidden bullish divergence between the price and RSI suggests strength. If buyers can defend this level, it coudl led to a bullish rotation.
WIFStrategy’s acquisition of 500,000 WIF tokens adds to the bullish sentiment.A prosperous defense here could maintain the asset’s upward trend. Let’s break down the key technical points:
- $0.75 acts as a high-timeframe support, combining Fibonacci and value area confluence.
A hidden bullish divergence between price and RSI hints at potential strength. Though, volume confirmation is crucial for a move back toward $1.40 resistance. If $0.75 holds, Dogwifhat could form a higher low and continue its uptrend.A failure below this level would weaken the bullish case.
For more insights, check the WIFUSDT (1D) Chart and Dogwifhat RSI for real-time updates.
