WIF price prediction — Here's why a pullback may be next despite 13% hike
As capital rotated into Solana memecoins over the last 24 hours, dogwifhat [WIF] recorded daily gains of 13.14% on the price charts. The timing here is interesting, especially since the Solana memecoin sector also gained by nearly 6%. WIF benefited greatly from this rotation as its trading volume jumped by 95.16% to $105.8 million over the same period. What does this mean though？ Well, this might just be evidence of traders developing an appetite for higher-risk ecosystem tokens. Worth pointing out, however, that the sharp increase in participation did meet some resistance. Hence, the question: Is the rally sustainable？ WIFs rebound runs into familiar hurdle On the daily chart, dogwifhat [WIF] rebounded from the $0.1758-region towards $0.2157, but buyers failed to push through this resistance. Notably, the barrier capped previous recovery attempts, making another price rejection significant for the short-term structure. More importantly, the RSI indicator formed a bearish convergence around the 62.85-zone as the price met rejection. Notably, each recent RSI approach towards this threshold zone aligned with WIF hitting the upper range, before a subsequent price retreat. At the time of writing, the RSI stood at 58.82, after retreating from the higher 62.85-zone. The repeated convergence between the indicators RSI resistance and price pullbacks could strengthen
