Dogwifhat price has decreased by 3% in the last 24 hours to $2.10, followed by signs of a potential trend reversal.
Current Situation with Dogwifhat
Dogwifhat price analysis on the 4-hour timeframe shows a downtrend after the price fell below the 50-day and 200-day Simple Moving Averages, which formed a 'death cross,' typically indicating a bearish phase onset. Following this decline, the Dogwifhat price consolidated within a support zone between $1.74 and $2.1. Recently, the price broke out of this range and moved above the 50-day SMA, reaching $2.10, yet it remains below the 200-day SMA, acting as resistance at $2.47. The Relative Strength Index (RSI) stands at 54.62, slightly above neutral, showing mild bullish momentum.
WIF Price Forecast
The Dogwifhat price trend shows signs of recovery, but significant resistance levels remain. If the price successfully breaks above the 200-day SMA at $2.47, a bullish rally could initiate, targeting the next resistance around $3.00. Conversely, failing to stay above the 50-day SMA ($1.97) could lead to a $1.70 support zone retest, especially if market sentiment turns bearish.
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Dogwifhat's price shows signs of a potential reversal, yet investors should watch the 200-day SMA resistance level for confirmation of a sustained bullish trend.
