WIF faces a potential price drop as bearish indicators intensify, but bullish accumulation at key support levels suggest a rally may follow.
The asset risks losing its current support level within the bullish pattern it is trading in, potentially leading to a deeper correction.has been predominantly bearish, with a monthly market performance of -43.11%. However, there are signs that the downtrend may pause in the coming trading sessions.
If the 1.885 support fails to hold, WIF is likely to lose strength and fall into a range. The next potential support lies at 1.486, where the asset may find the necessary momentum for a bounce.Once a bounce is initiated, WIF will face two key resistance levels on its path to a rally. The first is at 2.895, followed by the upper boundary of the bullish pattern. Overcoming these hurdles could see WIF establishing its next high at $4.830.The Open Interest of WIF has been steadily declining.
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