Dogwifhat Stages Epic Comeback with 17% Surge Off Support

• Dogwifhat (WIF) is showing bullish momentum on the daily technical charts.
• WIF price has surged by 17% in the last 24 hours, showcasing buyers presence.

Dogwifhat (WIF) is showing strong indications of a possible bullish reversal as it has rebounded strongly off its support lines. According to CMC data, WIF has registered an impressive 17% rise in the last 24 hours, showcasing bullishness. The meme coin seems to be preparing a big comeback as several technical indicators suggest an upswing.

The price movement indicates that WIF has managed to overcome the 50-day exponential moving average (EMA) at $0.8425, showing the buyers are active at the moment. This breakout is a very important technical event since the 50-day EMA is a very important dynamic support line in an uptrend. The next major target is at the 200-day EMA of $1.043, which has been serving as a strong resistance line.

The MACD indicator is also quite promising when it takes a bullish indication, with the MACD line crossing above the signal line. The histogram is green, which means that the bullish momentum is gaining. This crossover normally indicates that selling is weakening and buying is picking up.

What’s Next for WIF Price?

Source: TradingviewRelative Strength Index (RSI) is now at 57.30, showing a positive upward trend but not overbought. This reading indicates that there is still some price upside before the asset will be technically overextended. The bullish bias is supported by the fact that the RSI is above the 50 midpoint.

The indicators of social sentiment have also been green, which shows a good market sentiment about WIF. This change of mood is usually followed by prolonged price action because retail interest and community involvement are important factors in the performance of meme coins.

In support and resistance terms, WIF has a strong support of $0.777 that has been holding well in the recent price corrections. On the other side, the immediate resistance is at the 200-day EMA price of $1.043, and the extended resistance is at the price of $1.3.

In case WIF manages to overcome the 200-day EMA, investors might observe a powerful rally that may test the resistance at $1.3. Bullish technical indicators, positive sentiment, and solid support areas combine to form a bullish backdrop to the further upward trend in the dogwifhat price trend.

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