$WIF Dogwifat halts breakout at $0.40
Dogwifat (WIF) is trading firmly above $0.40 at the time of writing on Monday, marking a four-session winning streak with an impressive recovery of nearly 50%. On Sunday alone, this meme coin surged 20%, not only surpassing the 50-day EMA at $0.377 but also breaking through the resistance trendline formed from the peaks of October 13th and 27th — a technical signal confirming the trend.
If the upward momentum continues, WIF could potentially extend its gains towards the $0.472 region, corresponding to the key low established on October 17th.
In terms of indicators, the MACD still maintains a buy signal after Saturday's bullish crossover, while the RSI reached 61, reflecting significantly improving demand and remaining upside potential before entering the overbought zone.
However, in a negative scenario, if the price reverses and loses the 50-day EMA at $0.377, the current breakout attempt could be invalidated, thereby increasing the risk of a deeper correction to the psychological $0.300 mark.
