Can WIF price hold the $2 mark or will it face rejection? (Strategy · Bamboo Leaf)
This week, WIF has been volatile and sideways, reflecting the speculative sentiment of investors. The coin is preparing to retest the 20-day EMA mark and entered a range in yesterday's trading day.
The price action shows that the coin has respected the demand area of 1.50 dollars and has made a 180-degree reversal in the past 24 hours.
According to the settings, the coin may hover around the 100-day EMA mark and may consolidate future gains. Key indicators reflect that a rebound to $2.50 may be possible in the future, and the coin may extend the correction in the coming weeks.
The relative strength index (RSI) curve surged from the oversold area and headed towards the midline area. Nevertheless, the bear army must break the immediate support of $1.50 to continue the bear trend.
It is worth noting that WIF is ranked 54th with a total supply of 998.91 million. Its volume-to-market cap ratio is 0.284 and its fully diluted market cap is $2.04 billion.
