Can WIF price Test $5 Again?

7 באוק׳

When Bitcoin made its all-time high in March 2024, WIF surged to $4.85. However, both have since declined, with WIF experiencing a steeper drop. This decline has formed a falling wedge pattern, marked by a series of lower lows throughout Q2 and Q3 of 2024.

In Q4, WIF's price reignited, crossing a high-volume profile level and surging 21% intraday. It is now approaching the upper boundary of the wedge. With improving conditions in the crypto space and Bitcoin's recovery, the next move for WIF could be substantial.

The likelihood of a bullish breakout continuation from the falling wedge has increased, potentially pushing WIF towards the $5 mark.

According to WIF price predictions, short-term targets are set at $3.00, with long-term targets at $4.00 and $5.00. However, if WIF fails to maintain momentum and falls below the critical support level of $2.31, investor confidence could be shaken. Therefore, investors should avoid FOMO and DYOR.