Dogwifhat (WIF) Price Set To Skyrocket 2,500%, Predicts Renowned Economist
11 Novembre 2024 - 7:00PM
NEWSBTC
Renowned economist Henrik Zeberg has released a technical analysis
of Dogwifhat (WIF) on X, forecasting a massive 2,500% price surge
for the memecoin. According to Zeberg’s analysis, WIF is poised for
a significant rally, potentially reaching $78, driven by a larger
ABC pattern and a series of smaller subwaves. How Dogwifhat (WIF)
Price Could Hit $78 Zeberg’s weekly WIF/USDT chart illustrates a
large ABC corrective pattern, a fundamental structure in technical
analysis that indicates a retracement phase within a broader
bullish trend. This ABC pattern, according to Zeberg’s analysis,
could eventually culminate at point C around $78. This target is
based on the completion of the larger ABC structure, with the price
reaching new highs once the correction phase concludes which he
describes with the words “economy catches up with bull market.”
Within this larger ABC structure, Zeberg also maps out a series of
five smaller waves, which are part of the overall upward momentum
in the market. These five waves align with the principles of
Elliott Wave theory, a method used to predict price movements based
on market psychology. In Zeberg’s chart, the five waves (labeled 1
through 5) represent the early stages of the price rally, with the
first wave being the initial breakout, and the subsequent waves
following through with increasingly higher price points. Related
Reading: Dogwifhat (WIF) Shines With 15% Rally In The Past Week —
Is $2.8 The Next Stop? The first wave drove the WIF price to a high
of $3.04, followed by a correction in the second wave that brought
it down to $2.00. With the correction now complete, Zeberg predicts
that WIF could catapult to $6.59. For wave 4, Zeberg anticipates a
dip to $4.59 before the memecoin takes off towards $15.24. The
chart also highlights important Fibonacci retracement and extension
levels, which Zeberg uses to project potential support and
resistance zones as WIF progresses. The 2.618 Fibonacci extension
level, positioned around $6.59, aligns with Zeberg’s immediate
short-term target. Following this, higher extension levels at 3.618
and 4.618 ($11.96 and $21.69, respectively) suggest further upward
momentum, which could take the price to the anticipated $78 target
if the market continues to follow this trajectory. Related Reading:
Dogwifhat (WIF) Prepares For A Bullish Breakout – Analyst Sets $3
Target Zeberg’s prediction for the near term includes a price
movement towards $6.3 by the end of this week, followed by a brief
pullback. From there, he expects WIF to climb towards $13-$15 by
late November or early December. These intermediate price targets
are key milestones in the larger cycle that will eventually lead to
the projected price of $78, marked by the completion of the ABC
pattern. Zeberg writes via X: “Could we see ~6.3 USD by end of
week. Then pullback before move to ~13-15 USD by end of November –
early December? If WIF manages these steps – well then ~78 USD is a
probable target. I’m extremely BULLISH!!!!” At press time,
dogwifhat traded at $3.079. Featured image from Shutterstock, chart
from TradingView.com
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