A 15% jump after a 20% increase?
Crypto markets have turned bullish due to speculation that they are at the bottom of the next bull run. Bitcoin crossed $64,000, raising bullish sentiment in the market; So the price of memecoins like Dogwifhat (WIF) is now starting to swell. Therefore, the price is set to indicate temporary targets above $2, confirming a breakout from bearish influence.
The beginning of the month was very weak, BTC price dropped below $50,000. However, as the trade moves towards the end of the month, the bulls seem to have found their strength. Hence, with the trend reversal, YFF prices have shown the possibility of forming a bullish pattern and thus a breakout may help the price to break above the exhausted range.
YF price has been trading in a descending parallel channel since it failed to defend the highs. The recent retracement is about to form a double-bottom pattern, which usually provides a good base for an extended uptrend. In addition, a small increase can break above the supertrend levels, which can turn the indicator into a bearish one. An increase in bullishness confirms the continuation of the uptrend.
On the other hand, the on-balance sheet (OBV) caused a significant change after hitting the bottom. Therefore, YF price is believed to expect an upward consolidation and reach the maximum resistance above $2.2. If the bulls continue to maintain the necessary strength, a new ATH above $5 is likely.
