it formed an upward wedge, and after it peaked
On the daily graph, the past structure showed a tremendous 1100% surge from $0.399 on Feb 26th, 22024, to $4.819 by March 31st, 2024. However, the peak showed instability in WIF price and formed support at the $2.311 level after dipping to $1.97, which appears to be the major high volume level, as per the volume profile tool, by April 13th, 2024.
Thereon, the price tried to advance, but instead, it formed an upward wedge, and after it peaked at $4.0 by May 29th, 2024, it fell majorly, giving a breakdown by resonating with BTC. The dip in WIF formed support at $1.49, which looks crucial at the time of writing, as it has been approaching the volume profile level of $2.311. If the price succeeds in breaking the VP, then the resistance would be $3.0 and $4.0. failure to do so could lead back to $1.49, and knocking that could lead to a $1.00 mark.
Indicators-wise, the histogram in MACD looks to be growing above zero, while RSI has taken a jump from 14-SMA of RSI. Meanwhile, the price has been approaching the 50-day EMA from below in order to breach the dynamic resistance and fly. Overall indicators reflect the chart happenings, and it appears slightly bullish (at press time).
Thereon, the price tried to advance, but instead, it formed an upward wedge, and after it peaked at $4.0 by May 29th, 2024, it fell majorly, giving a breakdown by resonating with BTC. The dip in WIF formed support at $1.49, which looks crucial at the time of writing, as it has been approaching the volume profile level of $2.311. If the price succeeds in breaking the VP, then the resistance would be $3.0 and $4.0. failure to do so could lead back to $1.49, and knocking that could lead to a $1.00 mark.
Indicators-wise, the histogram in MACD looks to be growing above zero, while RSI has taken a jump from 14-SMA of RSI. Meanwhile, the price has been approaching the 50-day EMA from below in order to breach the dynamic resistance and fly. Overall indicators reflect the chart happenings, and it appears slightly bullish (at press time).
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