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The post Dogwifhat (WIF) Hits Golden Fib Level, Bulls Target 85% Rally appeared first on Coinpedia Fintech News

Dogwifhat (WIF), the popular Solana-based meme coin gained massive attention in the past few days due to its impressive price surge of over 150%. However, the meme coin has been continuously falling and has now found support at the golden Fibonacci ratio of 0.618 level.

Bullish Indicators on WIF Charts

Besides finding support at the golden ratio, WIF is also benefiting from Solana (SOL) as it approaches its all-time high. Additionally, the meme coin’s charts on both the four-hour and daily timeframes appear highly bullish, signaling a potential notable upside rally in the coming days.

WIF Price Prediction for November 2024

According to expert technical analysis, WIF has broken out of a bullish flag and pole price action pattern. Meanwhile, on the daily timeframe, the meme coin is forming a bullish engulfing candlestick pattern. This price action on both timeframes indicates bullish momentum for WIF holders and suggests a potential upside rally in the coming days.

Source: Trading View

Based on recent price action and historical momentum, if WIF breaks out of the flag and pole price action pattern and closes a four-hour candle above the $3.4 level, there is a strong possibility it could soar by 85% to reach its all-time high (ATH) of $6.

Currently, the meme coin is trading above the 200 Exponential Moving Average (EMA) on the daily timeframe, indicating an uptrend. Meanwhile, WIF’s Relative Strength Index (RSI) signals major rally incoming.

Bullish On-Chain Metrics 

With this bullish price action pattern and Solana’s upward momentum, WIF is currently attracting traders, resulting in a significant rise in open interest (OI), as reported by the on-chain analytics firm Coinglass. According to recent data, WIF’s OI has increased by 7.5% in the past 24 hours and 5.2% in the past four hours.

This growing OI indicates a strong interest from traders in the meme coin.

In addition to the growing OI, WIF’s current Long/Short ratio stands at 1.078, reflecting strong bullish market sentiment among traders.

Source: Coinglass

The combination of these on-chain metrics and technical analysis suggests that bulls are currently dominating the asset, potentially supporting WIF in reaching its target.

Current Price Momentum 

At press time WIF is trading near $3.32 and has registered a price gain of over 6.5% in the past 24 hours. During the same period, its trading volume surged by 25%, indicating increased participation from traders amid a bullish price action pattern.

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The post Microstrategy Stock And BTC Price Have Hit A Record High Simultaneously! appeared first on Coinpedia Fintech News

As per the latest report by MSTR-tracker data, the correlation coefficient between the Microstrategy (MSTR) stock price and the Bitcoin (BTC) has hit a record high around the same time recently. Moreover, the (100x) MSTR/BTC price ratio has reached 0.5 for the first time ever this month. Furthermore, during the same time period, the premium of $MSTR stock to its BTC price net asset value (NAV) has reached 3.4. Reportedly, this is an increase of approximately 197% this year.

The post Bitcoin SV Price Prediction: Will BSV Price Smash $100 This Weekend? appeared first on Coinpedia Fintech News

Story Highlights

• Bitcoin SV price records 8-month high surpasses $70 mark.
• Technical indicator EMA 50/200-day experiences a Golden Cross in the daily time frame.
• Increasing bullish sentiment hints at a higher price target this month.

With BSV price hovering close to its $100,000 mark, top Bitcoin-based altcoins have gained significantly in their respective portfolio. Moreover, the BSV token has gained the market limelight with its impressive short-term gains.

With the Bitcoin price hovering close to its $100k mark, will BSV price continue gaining momentum this week? Or will this altcoin face a strong bearish reversal during the upcoming time? You are minutes away from exploring the possibilities!

Bitcoin SV Reclaims its 8-month High!

The BSV price has maintained its bullish price action by adding ~6% to its valuation in the last 24 hours with a trading volume of $181.99 million. Furthermore, it has surged 10.97% over the last seven days and 49.89% this month.

TradingView: BSV/USDT

The Moving Average Convergence Divergence (MACD) displays a constant green histogram in the daily time frame with its averages experiencing a steady rise. This highlights that the price may continue gaining value this week.

Moreover, the EMA 50/200-day has recorded a Golden Cross in the BSV price chart, indicating an increase in the buying-over-selling pressure for the altcoin in the upcoming time.

Will BSV Price Hit $100?

If the bullish sentiment sustains, the Bitcoin SV price will head toward its resistance level of $86.60. Maintaining the price above that level could set the stage for this altcoin to retest its upper resistance level of $100 this month.

On the flip side, if the bears outrun the bulls, the BSV coin price will retest its support level of $70. Furthermore, if the bearish sentiment intensifies, this could result in it plunging toward its lower support trendline of $55 this year.

Curious to know the long-term prospect of this altcoin? Read CoinPedia’s Bitcoin SV Price Prediction and also subscribe to stay updated on the latest crypto news!

FAQs

How much is 1 Bitcoin SV worth?

With an intraday jump of 6.86%, the BSV price is currently valued at 74.64.

Who owns BSV coin?

Calvin Wright and Calvin Arye are the co-founders of the Bitcoin SV cryptocurrency project.

How many bitcoins SV are there?

The circulating supply of the Bitcoin SV cryptocurrency is 19.79 million BSV tokens.

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