WIF currently experiences significant buyer and seller activity. After peaking at 1.32 USD, it dropped to 0.922 USD before rebounding to 1.048 USD, illustrating a notable recovery. The trading volume indicates a strong presence of buyers, with 25.82 million WIF purchased compared to 19.64 million sold.
Despite a 12.4% increase over the past 24 hours and a 150% rise monthly, bearish sentiment persists in the market. Long positions dominate futures accounts, making up 68% as traders express optimism about price rises.
For WIF to continue its upward trajectory, the RSI needs to surpass its moving average. If the market conditions improve and buying activity exceeds selling, WIF could challenge the 1.28 USD resistance.
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