Technical Analysis (1H Chart)
$WIF 1. Price Action & Moving Averages (MA)
The price is currently trading at 0.321, showing a slight recovery after a sharp drop to the local support of 0.300.
* MA(7) (Yellow - 0.313): The price has just crossed above the short-term 7-period moving average, indicating immediate bullish momentum.
* MA(25) (Pink - 0.319): The price is currently testing this level as support. Staying above it is crucial for a continued move.
* MA(99) (Purple - 0.325): This is the primary resistance. The price has been trending below this long-term average for the duration of the chart, marking a macro downtrend on this timeframe.
2. Volume Analysis
* The recent green candle shows a significant increase in volume compared to the previous consolidation period. This suggests buying interest at the 0.300 level.
* However, the volume is not yet high enough to suggest a full trend reversal; it looks more like a relief bounce or "dead cat bounce" unless it breaks the 0.325 resistance.
3. Support and Resistance Levels
* Immediate Resistance: 0.325 - 0.328 (MA 99 and previous peak).
* Major Resistance: 0.341 (The high from Dec 23).
* Immediate Support: 0.313 (MA 7).
* Critical Support: 0.300 (Psychological level and recent bottom).
Prediction & Next Move
Scenario A: Bullish (Probability: 40%)
If the current candle closes above 0.322 and maintains volume, the coin will likely test the 0.325 - 0.330 zone. A successful breakout above the MA(99) would signal a shift in trend toward the 0.340 level.
Scenario B: Consolidation/Bearish (Probability: 60%)
The overall trend remains bearish as the price is still suppressed by the 99-period moving average. Most likely, the price will face rejection near 0.325 and enter a consolidation phase between 0.310 and 0.325 before deciding on its next major direction. If it fails to hold 0.313, a retest of the 0.300 floor is highly probable.
> Summary: The coin is in a "relief rally." Watch the 0.325 level closely; if it cannot break and hold above this, the downward trend will likely resume.
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