$WIF set for potential 2x surge to $4.80 – HERE’s what’s driving it! - AMBCrypto Analytics
Over the past week, Dogwifhat (WIF) has experienced notable volatility, with a 6.65% decline to $2.44. This price point was previously surpassed during an October rally before encountering resistance, leading to a pullback. Currently, WIF is poised for another upward attempt, eyeing a potential break above the resistance that has stymied its progress.
WIF is currently trading within a symmetrical triangle, a technical pattern that often signals a bullish breakout. If momentum builds, WIF could surpass the resistance level at $2.918, which has historically constrained its movement. A successful breach could trigger a rally towards the $4.80 target, with an intermediate goal of $4.08.
On-chain metrics analyzed by AMBCrypto reveal further bullish sentiment, reinforcing this optimistic outlook. Notably, the Chaikin Money Flow (CMF) indicator has shown a significant uptick, moving from negative to neutral at 0.00. This shift suggests strong liquidity acceptance in the market, indicating a robust bullish momentum ahead.