Dogwifhat (WIF) encountered resistance at the $3.57 mark and subsequently declined after struggling to gain enough momentum to surpass this crucial level. The meme coin is currently priced at $3.31, reflecting a decrease of 6.70% in the last 24 hours.

The Relative Strength Index (RSI) for WIF on the daily chart indicates a neutral momentum at 55.97. An RSI above 70 indicates an overbought condition, while below 30 is considered oversold. With WIF's RSI at 55.97, it suggests a balance between buying and selling pressure without being in extremes.

In the past day, WIF traded between $3.22 and $3.57, demonstrating the volatility in its price movements.

BONK Struggles to Overcome Resistance at $0.00002946, Enters Descending Channel

BONK also faced a price decline as it broke down from a descending channel pattern. The cryptocurrency met resistance at the $0.00002946 level recently but couldn't gather enough strength to surpass it. Currently, BONK is trading at $0.00002503, showing a 5.84% decrease in the past 24 hours.

The 200-day moving average (MA) for BONK is at $0.000012, significantly lower than its current price. Despite the recent decline, BONK remains above the 200-day MA, indicating a positive long-term trend.

In both cases, the price drops in Dogwifhat (WIF) and BONK can be attributed to factors such as the overall market downturn, resistance levels, and profit-taking behaviors among investors.