The WIF falling wedge breakout rally is gaining momentum as it surpassed the 38.20% Fibonacci level. The bullish recovery is a golden cross between the 50-day and 200-day moving averages.
Moreover, the MACD and signal line avoided a bearish crossover, resuming a positive alignment with the bullish charts. The meme coin is currently trading at $2.65 with an intraday gain of 3.54%. This comes after a 13.86% jump last night, which created an engulfing bullish candle.
The meme coin is showing a quick V-shaped reversal in the short term and is heading towards the 38.50% Fib level at $2.91. As the falling wedge breakout rally gains momentum, the probability of the meme coin peaking at $4.85 is increasing.
Hence, the meme coin is likely to make a new all-time high in the coming times if the broader market rally continues. Based on the Fibonacci levels, the upcoming short-term price targets for the meme coin stand at $3.31 and $3.86. In the long term, the meme coin is likely to reach $6.63 at the 1.618 Fibonacci level.
