Dogwifhat price holds strong at $0.75 support, showing resilience amid volatility. Key confluences hint at a possible bullish reversal forming.
Summary
- Strong support at $0.75 with multi-indicator confluence.
- Compression hints at a potential bullish breakout.
- Holding this level may fuel a rally toward $1.00–$1.40.
Dogwifhat (WIF) price has shown remarkable resilience over the past several sessions as the market consolidates near the $0.75 region. Despite broader volatility across the memecoin sector, WIF has managed to defend this level multiple times, indicating that buyers are stepping in to absorb selling pressure.
The confluence of multiple technical factors reinforces the idea that this level may represent a significant turning point in the current market structure, with Dogwifhat dipping to $0.75 support alongside a hidden bullish divergence, suggesting a potential rebound could be near.
Dogwifhat price key technical points
- Major Support Zone: The $0.75 level aligns with the 0.618 Fibonacci retracement and value area low.
- Structural Confluence: Bollinger Bands support and historical demand zones overlap at this region.
- Upside Targets: A confirmed hold above $0.75 opens the path to $1.00, followed by the $1.40 macro resistance.
From a structural perspective, the $0.75 support has acted as a pivotal level for Dogwifhat. Price action has repeatedly tested and respected this region, suggesting that a strong accumulation phase may be underway. The fact that this zone aligns with the golden Fibonacci pocket adds further weight to its validity. Historically, 0.618 retracements often precede continuation moves when accompanied by stable volume and diminishing selling momentum.
The Bollinger Bands are also beginning to compress near this area, indicating declining volatility, a precursor to expansion. Should the price start to close candles consistently above $0.75 with rising volume, it may confirm the initiation of a new upward leg. In such a case, the first immediate objective lies at the value area high near $1.00, while the next major resistance stands around $1.40.
Moreover, market structure remains constructive on higher time frames. The formation of a potential higher low within the macro uptrend suggests that WIF could be preparing for another impulsive push. If the current support holds, this level will mark the foundation of the next leg higher, establishing a stronger base for bullish continuation.
What to expect in the coming price action
As long as Dogwifhat maintains its foothold above $0.75, the probability of an upward rotation increases. Sustained closes above this zone could trigger an accelerated move toward $1.00, with a potential extension to $1.40 if momentum continues to build.
Conversely, a daily close below $0.75 would invalidate the bullish thesis and signal a deeper retracement toward $0.62.
Source link