Dogwifhat (WIF) price has surged more than 10% in the last 24 hours, raising the question of whether it can climb even higher. Technical indicators point to a balanced trend that could shift bullish, with the RSI showing WIF is not yet overbought, allowing room for additional gains without immediate correction risks.
Additionally, WIF’s ADX remains strong, supporting the possibility of a lasting trend that could enable a golden cross if short-term EMAs cross above long-term ones. Should this bullish formation take place, WIF may target higher resistance levels, while failure to sustain the uptrend could bring the price back toward key support zones.
RSI Shows WIF Isn’t Overbought Yet
Although WIF has surged more than 10% in the last 24 hours, one of the biggest gainers among the most relevant meme coins, it hasn’t reached the overbought zone, as indicated by its RSI level of 58.30. This places WIF in a neutral stage, suggesting that while there has been a recent price increase, the buying momentum hasn’t reached extreme levels.
The RSI, or Relative Strength Index, measures the speed and change of price movements. Levels above 70 indicate overbought conditions, and levels below 30 indicate oversold conditions.
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Since WIF’s RSI remains well below the overbought threshold, there appears to be additional room for the price to grow. This neutral RSI level implies that WIF could continue its upward trajectory without immediate risk of a major pullback.
However, it’s important for traders to monitor the RSI closely; if it approaches 70, there could be a higher chance of a price correction as buying pressure reaches its peak.
WIF ADX Shows The Current Trend Is Strong
WIF’s ADX is currently at 29.5, a slight decrease from above 35 in recent days. This indicates that while the trend remains strong, its intensity has slightly weakened.
The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction, with values above 25 generally signaling a strong trend and values below 20 indicating a weak or non-trending market. Despite the dip, the ADX level above 25 suggests that WIF is still in a strong trend.
At the same time, WIF appears to be on the verge of forming a golden cross, where its short-term EMA could cross above its long-term EMA, often seen as a bullish signal. If this golden cross materializes, it could trigger a new price surge, especially given the support of a strong ADX reading.
This setup indicates that WIF has the potential for upward momentum, provided the trend maintains its strength or even gains intensity again.
WIF Price Prediction: A Potential 30% Surge?
WIF’s EMA lines are currently in a bearish configuration, with short-term EMAs positioned below long-term EMAs, indicating recent downward pressure.
However, recent price movements have caused the short-term EMAs to rise significantly, suggesting the potential for a trend reversal. If these short-term lines cross above the long-term ones, it will create a golden cross, a classic bullish signal that could lead to a renewed price surge.
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Should this bullish crossover occur, WIF price could aim to break through resistance levels around $2.6, $2.8, and $2.97, marking a potential 30% price growth.
Conversely, if the uptrend fails to materialize and bearish momentum resumes, WIF may revisit support zones near $2.19 and $1.97.
Disclaimer
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