Token

dogwifhat

Bitcoin

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/popular-meme-token-wif-experiences-a-sharp-decline/" data-wpel-link="internal">Popular Meme Token WIF Experiences a Sharp Decline</a><br></p>
<p style="text-align: justify">The popular meme token <strong>dogwifhat (WIF),</strong> has recorded a 32% decline from its local high of $3.28. <a href="https://coin-turk.com/analist-btc-adina-yakin-vadeli-kritik-fiyat-seviyelerine-isaret-etti-kripto-para-piyasasinda-son-durum" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/dunyaca-unlu-5-kripto-para-yorumcusu-simdi-konustu-neler-olacak" data-wpel-link="internal">BTC</a>) also experienced a decline in the last 24 hours. At the time of writing, <a href="https://en.coin-turk.com/bitcoin-attempts-to-recover-after-falling-to-25k-what-triggered-the-recent-rise/" data-wpel-link="internal">BTC</a> had lost 5.9%, and further losses could occur in the coming week.</p> 
<h2 id="resistance-level-in-wif">Resistance Level in WIF</h2> 
<p style="text-align: justify">WIF bulls are hoping to maintain the $2 support level. However, momentum and sentiment were not on their side. Will we see the meme token enter a downtrend? <strong>WIF</strong> continues its bullish market structure with a low swing to the $2.049 level. Fibonacci retracement levels could indicate that WIF is retesting the 78.6% retracement level at $2.17 to maintain this low swing.</p> 
<p style="text-align: justify">A move below $2.05 in the cryptocurrency could turn the market structure bearish on the 4-hour chart. The Relative Strength Index <strong>(RSI)</strong> was already below the neutral 50, indicating that the downward momentum could be gaining strength. The OBV also showed a downward trend over the last two days.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-330379 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/wif-2.png" alt="" width="1906" height="1043"></p> 
<h2 id="expert-opinion-on-wif">Expert Opinion on WIF</h2> 
<p style="text-align: justify">Experts believe another bounce from the $2 support zone in the altcoin is possible. If the structure of the cryptocurrency shows a bearish trend, $2 and $2.4 could become key resistance levels. Open interest dropped from $364 million to $227 million in the last 48 hours. This significant retreat came along with a 32% price drop. The indicated situation shows that the downtrend has impacted speculators.</p> 
<p style="text-align: justify">While investors in the futures market seem reluctant to take long positions, participants in the spot market appeared hesitant to sell <strong>WIF</strong>. Spot CVD registered a slight decline in the last few hours but has maintained an upward trend since March 17. This situation could increase the chances for WIF bulls to cling to the $2 support, provided <a href="https://en.coin-turk.com/bitcoin-miners-selling-pressure-a-concerning-trend/" data-wpel-link="internal">Bitcoin</a> stabilizes.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/popular-meme-token-wif-experiences-a-sharp-decline/" data-wpel-link="internal">Popular Meme Token WIF Experiences a Sharp Decline</a></h5>

Popular Meme Token WIF Experiences a Sharp Decline

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