Dogwifhat is currently struggling as it approaches a significant resistance zone. The zone contains the 0.618 Fibonacci retracement level, the value area high, and the 200-day moving average. The token was previously at $1.12 and is encountering worsening trading volume.
The current price pattern shows higher lows but a steady resistance level, suggesting growing buying pressure. The market is paying keen attention to this consolidation area and looking for a particular breakout cue. The price action is steady with relentless volume and good technical cues.
Ascending triangle pattern suggests potential breakout
LTS Analyst shows an ascending triangle forming on the WIF/USDT daily chart. Horizontal resistance exists between USDT 1.08 and 1.10, capping price gains since April 2025.
Meanwhile, higher lows form inside a rising trendline, suggesting continued bullish enthusiasm. This is a triangle formation, most likely ahead of a breakout when volume is rising. If Dogwifhat breaks and closes higher at USDT 1.10, the price could blast off to USDT 2.16.
Target is nearly twice the breakout level. Risk management indicates a stop loss near USDT 0.87, below the ascending trendline. The triangle has been forming for two months, so the chance for a good breakout signal is increased.
Dogwifhat eyes breakout above $1.13
Currently, the WIF/USDT Binance chart is bullish with support coming from expanding Bollinger Bands and rising Bull-Bear Power (BBP). The price remains near the higher Bollinger Band at USDT 1.131, and the 20-day average at USDT 0.943. Maintaining the price near the higher band is an indication of strong buying and potential further continuation.
The BBP reading of +0.186 is the highest since May, indicating the bullish strength returns. The gauge switched from neutral to firmly positive in the previous few weeks, increasing the odds for more price gains. Consistent price above the midline for the month of July points to growing momentum following the consolidation month in June.
If Dogwifhat breaks above USDT 1.13 in the near term, the following resistance is around its earlier high at USDT 1.47. Solid confirmation of momentum and rising volume will be needed to establish a complete breakout. In the meantime, caution is the order of the day as the market awaits a convincing move through key resistance.
