Lokesh Gupta
17-06-2024
#Dogwifhat's price has remained stagnant on the daily chart over the past two weeks.
Current market consolidation indicates a symmetrical triangle pattern with dynamic resistance and support.
$WIF experienced a significant drop from $4.08 to $2.20 during the recent market downturn, marking a 45.85% decline.
Following a bounce off the lower trendline at $2.20, recent days saw a green candle formation indicating a temporary uptrend.
However, today's market activity reversed with a red candle, resulting in a 3% price decline.
According to Coingabbar analysis, If the pattern holds, $WIF may target the upper triangle boundary at $3.50, suggesting a potential 42% gain.
Conversely, a bearish reversal could drive the price towards its support trendline, signaling a shift towards a bearish trend upon breach.
KEY LEVELS :
RESISTANCE LEVEL : $3.0000-$4.0000
SUPPORT LEVEL : $1.9000-$1.0000
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
Lokesh Gupta is a seasoned financial expert with 23 years of experience in Forex, Comex, NSE, MCX, NCDEX, and cryptocurrency markets. Investors have trusted his technical analysis skills so they may negotiate market swings and make wise investment selections. Lokesh merges his deep understanding of the market with his enthusiasm for teaching in his role as Content & Research Lead, producing informative pieces that give investors a leg up. In both conventional and cryptocurrency markets, he is a reliable adviser because of his strategic direction and ability to examine intricate market movements. Dedicated to study, market analysis, and investor education, Lokesh keeps abreast of the always-changing financial scene. His accurate and well-researched observations provide traders and investors with the tools they need to thrive in ever-changing market conditions.
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