Analyst Predicts Drop To $1.5 As Prime Long Entry Point

Cryptojack, a well-known crypto analyst, It pointed out A big turnaround on the price chart of WIF. In a recent X post, the analyst identified that WIF has retested this key support level as it moves down towards the next key support at $1.5.

Crypto Jack states that the current drop in WIF’s value represents a huge opportunity for traders. A drop in this support level would mean a continued drop to $1.50, a key level that could be seen as a long opportunity for those tracking WIF.

WIF suggests bearish trend

Jack further stated that anything below the current support level suggests that a bearish trend exists in the market. WIF is expected to remain in the red going forward, so it is important to monitor the trend if it reaches $1.5. Traders should, however, remain cautious but be vigilant to capitalize on any price action breakouts at the expected support levels.

The coin’s price has fallen in the last 7 days 11.25%This is a sharp drop after the coin rode a rally and formed an ascending channel on the weekly chart. However, WIF’s average daily trading volume going forward increased significantly to $545,982,221.

At the time of writing, trading volume has reached $1 million. This level of volume is a good signal of market interest and shows that traders are placing bets based on past price movements.

Jack highlighted the fact that the cryptocurrency market is a rather volatile and promising one, and as the token is yet to reach the crucial figure of the $1.5 support level, all eyes are on the future developments of the market and the possible further opportunities associated with this stage.

The recent breakout below the WIF support level carries both threats and opportunities for any investor. Therefore, a drop to $1.5 is possible and traders will continue to pay attention and react simultaneously to the given market signals. The coming days will determine the further development of WIF and the possible opportunities for making big profits in such market conditions.

0 Comments

Leave a Comment