Dogwifhat (WIF) price prediction: forming a rounded bottom and a bull flag, indicating a continuation of the rise trend.

Dogwifhat (WIF) has slightly risen, with today's (18) Asian early session reporting at 1.08 USD. Both the 4-hour chart and daily chart show that the WIF price movement is showing signs of a breakout. The 4-hour chart presents a stable rising trend, with a rounded bottom, indicating a stable subsequent movement, while the daily chart is compressing towards a strong resistance area.

Analysts are closely monitoring the price movement of WIF, which is currently slightly below $1.12 and seems ready for the next move. On X (formerly Twitter), analysts CryptoFayz and CryptoBullet are both calling attention to this trend.

Fayz mentioned that a pump might be coming, while CryptoBullet stated that the WIF "will rise significantly soon," implying that traders' confidence is strengthening. According to the WIF's chart, the price movement in the market also supports this view.

WIF Price Analysis: Forming a Rounded Bottom and Bull Flag, Indicating Continuation of Rise Trend

In the 4-hour time frame, the WIF price broke out from the round bottom formed from the end of June to the beginning of July.

After the price rose and broke through 1.00 USD, the price initially showed a pattern similar to a bullish flag, which is a typical continuation signal. A trade in the range of 0.82 USD to 0.85 USD has reached the target price, with a pump of 24%.

The second bullish entry point is around $1.00, which is still active, with a target of $1.42 and a risk-to-reward ratio of 3:1.

The support level remains stable at 1.00-1.02 USD, with deeper support located around 0.90-0.95 USD. As long as the bulls hold above 1.00 USD, the structural breakout remains stable.

(Source: X, Trading View)

WIF daily chart shows that the pressure level is slightly below the key resistance level

In terms of scale, the trading price of WIF is approximately $1.09, and it has reached a key resistance level between $1.12 and $1.15.

Since mid-June, the daily chart trend has been rising, while forming a flat top pattern with higher lows, which is typically a setup that leads to a breakout momentum.

The price has also reclaimed the 50-day and 200-day moving averages, strengthening the intensity of the current trend. If the WIF price can close above $1.15 with strong trading volume, traders will aim for $1.30 as the next stop loss point, and in the long term, it is not impossible to move towards $2.00.

(Source: X, Trading View)

Traders remain optimistic about the target

CryptoFayz and CryptoBullet both hold a bullish outlook. Fayz has set a trading target of rising to $1.42, while CryptoBullet expects that once the resistance level is broken, the pump will quickly recover.

The technical aspects support the stock, with a clear structure and solid support levels, and there are no signs of trend exhaustion yet. As long as the bulls maintain above 1.00 USD, the WIF price is expected to rise.

All eyes are focused on the breakout area between $1.12 and $1.15. If this area is broken, the next round of rise may come quickly.