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The Dogwifhat price has surged 39% in the past week and 6% in the last 24 hours to trade at $0.522 as of 6:40 a.m. EST on a 17% plunge in trading volume to $324 million.
Dogwifhat Price Faces Rejection Amid Bullish Reversal
The WIF/USDT daily chart shows that the market is potentially shifting from a strong downtrend into a short-term bullish recovery. Since mid-January 2025, the price has declined steeply, dropping from levels above $1.60 to a recent low of around $0.28.
This downward movement culminated in a sweep of sell-side liquidity below the $0.30 mark, triggering stop losses and potentially marking a capitulation point. From this low, price action has since rebounded, forming a base within a defined support zone between $0.28 and $0.32.
This rebound is significant because it led to a bullish market structure shift (MSS), just above the $0.42 level. This shift indicates the formation of a higher high following a higher low, a classic early signal of a trend reversal or at least a relief rally.
WIFUSDT Analysis Source: Tradingview
Bullish Momentum Builds Toward $0.75
The price is now trading above this MSS zone, currently at $0.522. However, the bullish momentum is facing immediate resistance from a bearish order block (OB) located between $0.53 and $0.56. This zone has previously acted as a supply area and is now testing the strength of the current upward momentum.
A major resistance level lies higher up at around $0.75. If bulls can successfully break and hold above the $0.56 mark, this level becomes the next logical target. Beyond that, a much larger imbalance exists between $1.00 and $1.60, but a move toward that range would require strong bullish sentiment and increased trading volume.
On the momentum front, the Relative Strength Index (RSI) supports the bullish case. Currently, the RSI reads 61.41, which suggests increasing buying pressure without yet reaching overbought levels (typically above 70). The RSI’s orange moving average line, which is currently at 50.57, is also sloping upward, confirming the recent bullish momentum.
WIF/USDT appears to be in the early stages of a trend reversal after finding support at the $0.28–$0.32 zone. The key resistance lies at the $0.53–$0.56 range. A breakout above this level could open the door to $0.75 and potentially higher, while failure to break above could see a retest of the support zone.
Solaxy (SOLX) Heads For $32M In Presale – Best Crypto To Buy Now?
While the Dogwifhat price struggles to break through a strong resistance zone, investors are shifting their attention to Solaxy (SOLX), a fast-growing new project built on the Solana network.
Solaxy has already raised $31.4 million in its presale and aims to be Solana’s first layer-2 (L2) scaling solution.
Inspired by Ethereum’s Arbitrum and Optimism, Solaxy will handle transactions off-chain and finalize them on Solana’s mainnet. This approach is designed to lower fees and speed up transactions, which is a big help as Solana continues to deal with network congestion.
Adding to the hype, popular crypto YouTube channel 99Bitcoins, with over 725k subscribers, predicts that SOLX could grow 10x after it launches.
Solaxy also plans to launch a cross-chain bridge starting with Ethereum. This will link Ethereum’s large liquidity with Solana’s speeds, unlocking more use cases for the SOLX token. SOLX will also be used for payments, rewards, and governance.
Stake SOLX Now To Earn 128% APY
Solaxy is giving early investors a big opportunity to earn through its staking program, offering an impressive 128% annual percentage yield (APY).
The project has also partnered with Best Wallet, making it easy for users to buy and manage their tokens directly within the app.
🔥 The Solaxy Era Begins 🔥
The Solaxy TestNet Block Explorer is now live! This is the first step in bringing about $SOLX domination. 🛸🪐
Check it out for yourself below 👇https://t.co/VWq2cscsrK pic.twitter.com/8rIQfOHAwb
— SOLAXY (@SOLAXYTOKEN) April 19, 2025
As activity on the Solana network continues to rise, Solaxy’s position as the first layer-2 scaling solution gives it a strong advantage.
The token is currently available in presale for just $0.001704, and purchases can be made via crypto or bank card.
Investors looking to get in early should act fast, as the next presale price increase will occur in less than 30 hours.
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- Kusama Price Prediction for Today, April 23 – KSM Technical Analysis
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