Dogifwhat (WIF) price forecast: Buyer strength is increasing, and the "unbought surplus" is expected to break through the bearish channel.

After several weeks of sluggishness, the momentum of Dogwifhat (WIF) has begun to revive. Coinpedia shared a technical chart in a tweet on July 3, highlighting a possible Rebound within the price fall channel.

According to their analysis, the trading price of WIF is $0.935, and it needs to break through the 200-day moving average of $1.078 to open the way to the next major target of $1.389.

However, after that, the price slightly retreated, falling to around $0.88, as the cryptocurrency market took a brief rest after a strong rise earlier this week. Nevertheless, the chart setup remains intact—WIF may be preparing for the next significant move.

WIF Chart Analysis

According to Captain Altcoin, the daily chart shows that WIF is within a descending channel. This means that over the past few weeks, the price has been making lower highs and lower lows. However, recently, WIF has rebounded from the support at the lower edge of the channel. This typically indicates that buyers are still entering the market as prices decline.

The Relative Strength Index (RSI) is around 56, indicating that buyer strength is increasing, but prices are not yet overbought. If momentum strengthens, there is still room for prices to rise. Below the chart, the MACD indicator shows the beginning of a bullish crossover. The blue MACD line is crossing above the orange signal line, which is often an early signal that a downtrend may be ending. In summary, these are all signs that could indicate a potential shift towards bullish momentum—but no clear breakout has yet occurred.

(Source: Trading View)

Key WIF Price Levels to Watch

Coinpedia's tweet points out that $1.078 is the most important breakout level.

The 200-day moving average is located here, which is an important resistance level. If WIF can break through and maintain above this level, traders may start to pay attention to the next target around 1.389 dollars.

The level of 1.389 USD is also close to the upper edge of the descending channel. If WIF breaks through the EMA and the upper trend line, this will be a strong signal indicating that greater volatility is about to begin.

On the downside, the downward trend line of the channel — close to $0.80 — is a key support level. If WIF falls below this level, it may retrace to $0.70 or lower.

Short-term WIF Price Prediction

Although WIF fell to $0.88 after the tweet was released, the price is still trading within a falling channel. This means that the setup is still valid at the moment.

If the price holds the support line and begins to rise again, we may see WIF retest $1.00 and possibly break through $1.078. If this happens, it is more likely to fall towards $1.30 to $1.38 in the short term.

But if the momentum weakens and WIF falls below $0.80, the next support area may be around $0.70 or even $0.60.

The next few days are crucial. If the MACD cross holds and the RSI remains strong, buyers may soon return—especially if Bitcoin and other markets remain stable or rise.