Panic Selling or Bullish Reversal? WIFUSDT Faces a Crucial Test!
Updated
Yello, Paradisers! Have you noticed #WIFUSDT’s recent nosedive? As Bitcoin slipped below the critical 60k level, #WIF lost its footing and tumbled.
💎After having 10 consecutive sessions of downside, WIF is finally experiencing strong rounds of short-coverings. But the major question is, can this momentum hold? The answer lies in the fast-approaching resistance levels between $1.48 and $1.58.
💎Historically, this $1.48 to $1.58 range has served as a strong support, often triggering multiple rebounds. However, failing to hold this time has resulted in a significant drop. Over the next few hours, price is anticipated to challenge these levels again. Should the bulls fail to break through, selling pressure could resume, potentially driving prices back down towards the $1.30 level, followed by the recent wick lows, and likely into the crucial support zone of $0.88 to $0.84.
💎This supportive region of $0.88 to $0.84 isn't just any level—it's a significant supportive region that could spark short-covering and potentially mark a short to medium-term low, setting the stage for a strong reversal.
Stay vigilant and trade smart, Paradisers. Understanding these critical levels and market reactions is key to navigating the next moves.
MyCryptoParadise
iFeel the success🌴
💎After having 10 consecutive sessions of downside, WIF is finally experiencing strong rounds of short-coverings. But the major question is, can this momentum hold? The answer lies in the fast-approaching resistance levels between $1.48 and $1.58.
💎Historically, this $1.48 to $1.58 range has served as a strong support, often triggering multiple rebounds. However, failing to hold this time has resulted in a significant drop. Over the next few hours, price is anticipated to challenge these levels again. Should the bulls fail to break through, selling pressure could resume, potentially driving prices back down towards the $1.30 level, followed by the recent wick lows, and likely into the crucial support zone of $0.88 to $0.84.
💎This supportive region of $0.88 to $0.84 isn't just any level—it's a significant supportive region that could spark short-covering and potentially mark a short to medium-term low, setting the stage for a strong reversal.
Stay vigilant and trade smart, Paradisers. Understanding these critical levels and market reactions is key to navigating the next moves.
MyCryptoParadise
iFeel the success🌴
Trade closed: stop reached
#WIF shows immense strength by taking out the key resistance zone. Price could now potentially be aiming for higher levels if today's session closes strong above invalidation level.
The recent dip then would be viewed as a deviation below with reclaiming of structure once again!!
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