Decoding; What WIF Price Can Do In Short-Term & Long-Term?

Decoding; What WIF Price Can Do In Short-Term & Long-Term?

When Bitcoin reached its all-time high in March, Q1-2024, WIF surged to $4.85. Since then, both have declined, with WIF experiencing a sharper drop. The fall in WIF's price has formed a falling wedge, characterized by a series of lower lows in Q2 and Q3 of 2024.

Currently, WIF has surged 15% intraday and is nearing the wedge's upper border. The price action in Q3 has also formed a symmetrical triangle within the wedge. These patterns suggest that the next move could be significantly large, driven by market optimism and Bitcoin's performance. The chances of a breakout appear strong.

For WIF's price to rise, it needs to show confidence by sustaining above the $2.31 change of character level. According to WIF price predictions, short-term targets are set at $2.31 and $3.00, while long-term targets are near $4.00 and $5.00. However, if confidence isn't established, WIF might continue to consolidate.