Dogwifhat (#WIF ), one of the popular memecoins of the Solana network, attracted attention with its bullish formation.

While analysts indicated a possible downward level for Dogwifhat ($WIF ), the growth of the rise is increasing. It was stated that WIF is sailing in 3 directions with the bull flag formation.

In the cryptocurrency market, there was a sudden rise scene on Sunday with Bitcoin heading towards 70,000. Following the expected uptrend experienced in the fourth quarter, a crypto analyst drew attention to a potential bottom formation in WIF prices based on key technical indicators.

SOL / WIF pair gave an upward signal In a statement he made on his social media account, crypto analyst Bluntz drew an optimistic picture for the future of the memecoin Dogwifhat, which looks like a dog. The analyst examined the WIF/SOL pair and stated that the strong performance in Solana (SOL) could gradually trigger the pair.

The uptrend in #SOL is where popular memecoins located in the ecosystem are located. Analyst Bluntz, on the other hand, suggested that the WIF/SOL pair will reach the bottom on the four-hour chart. The analyst stated that a new pattern has formed, indicating the end of the progress process. The pattern in question is considered an important signal that strengthens the possibility of a price reversal.

Is a 32 percent increase possible?

In the last two weeks, Dogwifhat has lost 26 percent, falling from $ 2.97 to the right of 2.1. According to the analyst, this decline in price has formed a bull flag formation.

The Bull Flag pattern is used for conditions where the price represents the main trend with a long "pole", then a temporary direction change with a "flag" formation. The current change remains above the 50-day moving average, indicating a healthy pullback for the next rally.

WIF is currently trading at $2.48, just 1.5% away from the flag resistance. There are expectations for WIF to move higher, with buyers supporting it, if the uptrend line is broken. The analyst suggests that if the said breakout occurs, WIF could rise by 32% and push $3.3.

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