WIF’s bullish trajectory still appears intact on the daily chart, but the recent drawdown has brought a little setback in the market. Following a recent bounce from a crucial support, it is back in an upward range. Last month was more volatile for the bulls following a significant push from a low of $0.3 in the preceding month, but unfortunately, WIF ended it on a sad note after facing rejection under the $1.4 level. Leading to a serious price decrease this month, WIF entered a correction mode and lost some grounds. Technically, this brough a discount in the market, and as we can see, the bulls took advantage of it. Currently, the price is bouncing back. The latest bounce is supported by the $0.79 support level after third failed attempts to plunge through it. A continuous daily increase could bring us back above the psychological $1 level that lost during the last leg down. A strong weekly close above last month’s high could facilitate bigger gains in the future. Rejecting the psychological level could trigger another leg down capable of sending the price back to the latest bounce support level before deciding where next to head. Currently, the bears are off the market. Now that the bulls are showing commitment daily, we can expect more positive actions in the coming days. Their next key target level to watch would be $4 in the near term. WIF’s Key Levels To Watch Source: Tradingview The primary obstacle for the bulls right now is $1, followed by the $1.39 resistance level, rejected last month. A clear break above them could rally the price quickly to $1.75 and $2.25. Breaking the mentioned holding support in a fresh drawdown could slide the price to the $0.58 level. The subsequent support for tests lies at $0.4. Key Resistance Levels: $1, $1.39, $1.75 Key Support Levels: $0.79, $0.58, $0.4 Spot Price: $0.87 Trend: Bullish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
