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The post <a href="https://coinpedia.org/price-analysis/wif-price-major-breakout-event-eyes-2x-surge/" rel="noopener noreferrer nofollow">WIF Price Major Breakout Event, Eyes 2x Surge&nbsp;</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
With just 100 blocks left for the Bitcoin Halving, the altcoins are starting to heat up trend momentum. The bullish reversal in WIF price showcases a boost in momentum with a breakout entry opportunity.&nbsp;
Spearheading the recovery rally in the meme coin industry, the Dogwifhat showcases an early reversal rally. Will the WIF price continue the prevailing uptrend to reach the $5 mark as the Bitcoin Halving inches closer?
<h2 class="wp-block-heading" id="h-dogwifhat-price-performance-nbsp">Dogwifhat Price Performance&nbsp;</h2>
During the correction phase in the broader market, the WIF price dropped from the peak of $4.85 to the crucial support of $2. The contracting downfall led to a wedge pattern while the buyers started a sideways trend above the psychological mark.&nbsp;
<figure class="wp-block-image"><img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646.png" alt="" class="wp-image-292228" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/19142041/image-646-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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<a href="https://www.tradingview.com/x/Lb1yukIr/" rel="noopener noreferrer nofollow">Tradingview</a>
However, with the newfound momentum, the meme coin exceeds the overhead resistance trendline. This brings a breakout entry opportunity for the sideline traders, with the broader market sentiments improving.&nbsp;
Currently, the WIF price trades at $2.71 with an intraday move of 5.74% following the 6% jump a day before. Further, the meme coin is inching closer to the $3 billion market cap, a reflection of the growing community and its dominance.&nbsp;
Technical indicators:
EMA: The death cross in the 4H is slowly losing its significance as the reversal rally gains momentum.&nbsp;Considering the uptrend regains momentum, the crucial EMAs could restart an positive trajectory, with a golden crossover.
RSI: The 4-hour RSI slope shows a bullish divergence fruition as the reversal rally surpasses the resistance trendline.&nbsp;
<h2 class="wp-block-heading" id="h-will-wif-price-hit-5">Will WIF Price Hit $5?</h2>
If the broader market regains bullish momentum, the Dogwifhat price will likely display a breakneck upside move to reach the psychological level of $5. Optimistically, the breakout rally could hit the $6.90 mark or the $1.618 trend-based Fibonacci level.&nbsp;
On the contrary, if the supply pressure revamps, the WIF price might rechallenge the bullish dominance at $2.&nbsp;

WIF Price Major Breakout Event, Eyes 2x Surge

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