WIF has dropped 15% in the past 24 hours, falling under 1.60 USD for the first time in four months. This sharp decrease follows a deeper 47% decline over the previous month, underscoring intense selling pressure within the market. There is a focus on observing whether the price can stabilize at current levels.

Technical indicators suggest the possibility of further declines if support levels are broken. The asset’s RSI is at 17.8, indicating it is heavily oversold, which could hint at a potential rebound if buying interest revives. ADX stands strong at 43.7, reflecting a strong downward trend in the current market scenario.

There is a risk of WIF testing a support level at 1.32 USD, potentially dropping to 1.07 USD if breached. Conversely, if market sentiment improves, WIF could recover, targeting resistance at 1.73 USD, and possibly reaching up to 2.2 USD. The ongoing market climate suggests a significant Movement in either direction is possible.