Dogwifhat Price Forecast: WIF bulls targeting 35% gains ahead
Dogwifhat price hovers around $0.74 on Monday after rallying nearly 16% in the previous week. Lookonchain data shows that the wallet “Ansem” spent $2.3 million USDC to buy 2.97 million WIF tokens on Monday. The technical outlook suggests a bullish divergence on the RSI indicator, hinting at a bullish reversal ahead. Dogwifhat (WIF) price hovers around $0.74 on Monday after rallying nearly 16% the previous week. Lookonchain data supports a bullish outlook, showing that the wallet “Ansem” spent $2.3 million USDC to buy 2.97 million WIF tokens on Monday. The technical outlook suggests a bullish divergence on the Relative Strength Index (RSI) indicator, hinting at a bullish reversal ahead. Dogwifhat shows a bullish divergence in the momentum indicator Dogwifhat price broke above the descending trendline (drawn by connecting multiple highs since mid-December) on Friday and rose 21% until Sunday. At the time of writing on Monday, WIF trades around $0.74. If WIF continues its upward momentum, it could extend the rally to retest its psychologically important level of $1, marking a 35% increase from current levels. The Relative Strength Index (RSI) indicator suggests a strength in momentum on the daily chart. The lower low in the Dogwifhat price formed on February 25 does not reflect the RSI higher high for the same period. This development is termed a bullish divergence, often leading to a trend reversal or short-term rally. Moreover, the MACD indicator also showed a bullish crossover last week, giving a buy signal and suggesting an upward trend. WIF/USDT daily chart Lookonchain data shows that the wallet “Ansem” spent $2.3 million USDC to buy 2.97 million WIF tokens on Monday, further bolstering Dogwifhat’s bullish outlook. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet. FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.