The dogwifhat price is rising by nearly 20%, reaching above $0.17 with a significant increase in the volume of more than 82%. The surge appears to be primarily driven by a risk-on rotation into high-beta memecoins, with WIF leading a broader risk-on move. However, WIF now faces an important test as it enters a zone where selling pressure has historically been strong. This raises the question of whether the WIF price can withstand the selling pressure and push the token towards higher targets.
WIF Price Analysis: Bulls Test Key Supply Zone
From a technical standpoint, WIF remains inside a broader descending channel, showing that the higher-timeframe trend is still under pressure. The latest bounce came after the price defended the lower boundary of the channel near $0.14, which acted as strong short-term demand.
Price is now pushing into the $0.17–$0.18 supply range, a zone where previous selling pressure has repeatedly capped upside. A breakout above this level could shift momentum in favor of the bulls and open the path toward $0.20 and potentially $0.22, which would mark nearly a 30% upside from the recent lows.
Volume has started to recover, while the RSI has climbed toward 55, suggesting improving momentum without entering overbought territory. This gives bulls room to push higher, but the current supply zone remains the immediate hurdle.
On the downside, failure to break this resistance could trigger another pullback toward the $0.14–$0.15 support zone, keeping WIF trapped within its broader bearish channel.
Key Levels to Monitor
- Immediate Support: $0.15–$0.14: This is the lower-demand zone where buyers have recently stepped in. Holding this level keeps the short-term rebound intact.
- Immediate Resistance: $0.17–$0.18: The current supply zone. A breakout above this area would be the first bullish confirmation.
- Major Upside Target: $0.20: A key liquidity level and psychological resistance. Reclaiming this could accelerate momentum.
- Extended Target: $0.22–$0.24: This aligns with the upper boundary of the descending channel and could mark a 25–30% upside if momentum sustains.
- Bearish Invalidation: Below $0.14: Losing this support could weaken the bullish setup and expose WIF to another move lower within the channel.
What’s Next for dogwifhat (WIF) Price?
WIF’s latest rebound highlights growing short-term buying interest as the token attempts to recover from its recent correction. While momentum is improving, the current supply zone remains the most important level for bulls to reclaim.
A breakout above resistance could strengthen the bullish case and trigger a broader recovery toward higher liquidity zones. Until then, traders will closely watch whether dogwifhat (WIF) price can withstand selling pressure and sustain its latest rally.