The price of WIF is showing growth and actively trading near an important resistance level, attracting trader interest.
WIF Hits Resistance After Big Daily Move
Currently, the price of WIF is trading at $0.944, jumping more than 11% in the last 24 hours. The chart shows that the price is testing the upper boundary of the resistance zone, which lies between $0.95 and $1.00, existing for over a month. This zone has proven difficult for WIF to break since early June, forming a series of lower highs in the process.
WIF Price Finds Support at the 100-Day SMA
The price of WIF has solid support between $0.66 and $0.75, an area that has caught several dips over the past few weeks. The 100-day Simple Moving Average (SMA), now sitting at $0.754, adds extra strength to that support zone. Every time WIF has pulled back towards this range, buyers have stepped in. The price hasn’t closed a daily candle below the 100-day SMA since early May.
RSI Points to Momentum
The current RSI level is at 57.24, suggesting that momentum is on the rise but not overheated. This is a healthy zone where the price can still push higher if volume increases. While the triangle pattern is still in play, the RSI hints that bulls are not finished yet. A triangle with flat support and lower highs often breaks out with force. The question now is which direction it will go.
The current situation with WIF's price shows uncertainty as it remains caught between pressure from above and support below. Future movements will depend on the behavioral signals on the chart in the coming days.
