- WIF breaks out of the falling wedge after 140% rally, signaling bullish momentum.
- Analysts see $0.75 as weak resistance, with price targets set at $1.70 and $2.00.
- Smart money invests $118K in WIF as bullish RSI divergence supports further upside.
Dogwifhat (WIF) remains one of the better-looking altcoins in the Solana ecosystem, currently ranging in price before a potential move. Analysts expect WIF to lead the next phase of the meme coin rally. The $0.75 level is not considered a strong resistance, with buyers watching closely for expansion.
WIF Price Breaks Out of Key Pattern with Bullish Momentum
According to analysis prepared by Solberg Invest on X, WIF recently broke out of a falling wedge pattern, which is often seen before upward price moves. This development came after a rally of nearly 140% from its April 7th low, pushing the token to a local high of $0.72.
Despite a broad market pullback, WIF closed the month at $0.633, above its former resistance zone of $0.59–$0.60. The chart also revealed a hidden bullish divergence on the 4-hour RSI, showing price strength even as momentum indicators dipped.
On Thursday, during a brief correction, WIF touched the 0.382 Fibonacci level from its April rally. Data from Stalkchain shows that $118,000 was invested into WIF by smart money during that move.
Analysts Project Further Upside and Dismiss $0.75 as Resistance
While some technical traders highlight $0.75 as a resistance area, multiple analysts suggest that the level lacks strength. According to Solberg Invest, a break above $0.72 could complete an inverse head-and-shoulders pattern, commonly linked to bullish outcomes in meme coin charts.
Price targets for the short term include $1.70 and potentially $2, aligning with WIF’s macro Fibonacci levels. With WIF still trading 86% below its all-time high, many consider the altcoin to be undervalued. As interest grows in Solana-based meme coins, Dogwifhat may be positioned to lead the next market expansion.
