WIF Rebounds as TD Sequential Signals Potential Trend Reversal

• The TD Sequential indicator has flashed a buy signal on WIF’s 12-hour chart, indicating a possible price reversal.
• Stochastic RSI and MACD indicators show mixed signals, with momentum shifting but not yet confirming a full bullish trend.
• Traders are monitoring $1.00 and $1.50–$2.00 resistance levels while $0.58 remains a key support for potential downside risk.

The cryptocurrency dogwifhat (WIF) is suggesting a price reversal, supported by technical indicators that signal a trend change. 

Technical Indicators Suggest a possible rebound.

Crypto analyst Ali_Charts tweeted that the TD Sequential indicator has signaled a buy signal in WIF’s 12-hour chart. The indicator is generally a price exhaustion signal in a trend downward that can result in a bounceback. WIF has shown a gain in the current session, suggesting that there is buying interest after the price hit a new low of $0.584.

The Stochastic RSI, a momentum indicator, also signaled a recent upside crossover after lingering in oversold areas. The blue line is at 39.26, while the orange line is at 21.71. Breaking above 50 in the Stochastic RSI would likely lead to more bullish momentum to be established. Failure to move up, however, would lead to more selling pressure.

Meanwhile, the MACD indicator is in a bear phase, with the MACD line (-0.236) remaining below the Signal line (-0.249). However, smaller histogram bars signal decreasing bear strength. A MACD to Signal line bullish crossover would be a more powerful indicator of a trend reversal.

Source: TradingView

Key Resistance and Support Levels to Watch

The price of WIF recently rebounded from a low of $0.584 before climbing higher. Market participants are now monitoring several key levels:

$1.00: A key resistance point where more selling pressure is likely to arise.

$1.50–$2.00: Previous key resistance points that can help to determine the strength of any potential bullish continuation.

$0.58: If it falls below this level, more losses towards $0.40–$0.50 would be likely.

Potential Scenarios of WIF’s Price Movement

A continued buying interest coupled with a move in the Stochastic RSI to overbought would send WIF to the resistance of $1.00. In a bullish MACD crossover, a more forceful breakout over $1.50–$2.00 would be anticipated by investors.

On the negative side, if WIF loses momentum and the Stochastic RSI also turns downward, selling pressures can again be felt. In case price breaks below $0.58, losses towards $0.40–$0.50 can be possible.

At the time of writing, WIF was trading at $0.6976 , a trading volume of $583,499,871 over a 24-hour period. This is up 18.88% over the last 24 hours and is down 7.16% over the week.