- $WIF is forming a potential reversal structure near the $0.4587 demand zone, supported by a bullish RSI divergence.
- The price is testing a local diagonal resistance, with a breakout possibly indicating renewed short-term strength.
- A local supply zone remains overhead, acting as the next potential target if buying momentum continues to build.
The cryptocurrency $WIF is showing early signs of recovery after trading within a prolonged downward structure. The asset is currently priced at $0.4836, marking a 0.8% gain in the past 24 hours . On the 1-day chart, the price action is consolidating near a key demand area after several weeks of correction. Notably, the presence of a bullish divergence on the RSI suggests that downward momentum may be weakening. This development has placed the market’s attention on whether the token can break above its immediate resistance and confirm a short-term trend shift.
Market Position and Technical Landscape
The price has maintained support around $0.4587, forming a visible base within the demand zone. At the same time, the market remains capped by a local resistance at $0.4849. Within this narrow range, the price structure outlines the first signs of stability.
Moreover, the chart shows $WIF approaching the lower boundary of a descending channel, which has acted as a containment area for months. The pattern indicates an emerging attempt to challenge the first local diagonal resistance, where a breakout could mark a structural improvement in price direction.
RSI Signals Strength as Buying Pressure Gradually Builds
Momentum indicators have shown a slight shift in sentiment. The Relative Strength Index (RSI) is moving towards the upward slope whereas prices have remained close to the lower demand point. This one-dimensional bullish divergence is an indication of increasing buying power despite the overall direction being technical corrective. Nevertheless, the trend has been followed by traders to ensure they are convinced that it is the precursor of possible reversals. The RSI’s gradual climb above oversold levels suggests that market participants are beginning to accumulate at current prices.
Local Supply Zone and Potential Market Behavior
Above the current range, a local supply zone sits near previous swing highs, where earlier rallies faced resistance. Price movement toward this area could serve as the next short-term objective if momentum continues to build. For now, attention remains on whether the token can maintain stability above its demand base and extend toward higher resistance levels. The alignment of structural support, narrowing range, and improving momentum keeps this level in focus for near-term market observation.
