WIF Predicted To Rise In Early August, Here's Why!

WIF is predicted to rise in early August (Photo; Doc. U.Today)

JAKARTA - Over the end of July, investors' attention was focused on the WIF price movement, a crypto asset that attracted attention due to its stability. Despite having reached a periodic peak at US$2.8 (around Rp45,514) on July 22, the WIF price has now dropped to around US$2.30 (around Rp37,386). This decline is thought to have been caused by a profit-taking by investors after a recent price spike. However, there are indications that a price increase may be happening again in the near future.

According to information from En.Coin Trucks, one of the indicators supporting this potential increase is the Chaikin Money Flow (CMF) value which rose to 0.15 on a daily graph. Positive CMFs show an increase in buying pressure, which is usually a signal that investors are starting to buy back even though prices are falling. The discrepancy between price movements and these indicators is often considered a positive sign for WIF's future, signaling that traders remain optimistic and buy amid falling prices.

In addition, there is an increase in Weighted Sentiment related to WIF, which measures the ratio of positive and negative comments about crypto projects on social media. Currently, the indicator is at -0.30, but there has been improvement since July 29. If this trend continues towards a positive zone, the increase in WIF prices is expected to occur in the near future.

Looking at the daily WIF/USD chart, it can be seen that this meme coin has removed most of the gains it achieved during July. However, the WIF price is now approaching the critical demand zone between 2.14 US Dollars and 2.20 US Dollars, which could be a turning point for price rebounds.

WIF prices are also approaching 20-day Exponential Moving Average (EMA). The EMA is an important indicator in measuring the direction of the trend. If the price of an asset is above the EMA, the trend is considered to rise, and vice versa. If the WIF manages to penetrate above the EMA 20-day, it is estimated that the upward trend will continue, with the next target price at 2.47 US Dollars and then 2.78 US Dollars.