The recent price actions for Dogwifhat (WIF) and 1inch Network (1INCH) reveal noteworthy bullish trends. Analyst CryptoJack has highlighted significant movements on X post that could impact their market positions shortly.
The WIF/USDT pair recently escaped a descending triangle pattern. This chart pattern is known for lower highs but stable lows, suggesting a consolidation phase. Typically, this indicates bearish sentiments, but the upward breakout at just over $3.00 has defied these expectations.
The price soared and tested the resistance at $3.47, now a crucial support zone. If the support holds, CryptoJack’s projections show a potential rise toward the $4.00 mark.
Dogwifhat, a Solana-based meme coin, has seen its value rise to $3.50, marking a decline of 0.35% over the past day. According to recent data, this upward trend is accompanied by a significant boost in trading volume, which has soared by 33.68%, reaching $674,034,998.
The cryptocurrency currently holds a market cap of approximately $3.49 billion, positioning it 29th in the market ranking. The surge in Dogwifhat’s price correlates with a notable trading activity, where its volume-to-market cap ratio stands at 19.41%.
Crypto Rollercaster: SNX, LDO, 1INCH, and SUSHI Show Strong Momentum, What’s Next?Meanwhile, 1INCH has been encountering stiff resistance at around $0.5. A break above this level, as analyzed by CryptoJack, might trigger a substantial price rally. The 1INCH/USDT pair has steadily recovered from its previous downturns.
Breaking above the $0.5500 mark, it now targets the $0.6000 resistance, possibly extending gains into the third quarter of 2024.
This positive outlook is backed by recent trading patterns and bullish technical indicators that suggest a continued upward movement for both cryptocurrencies.
Over the past 24-hour period, the 1inch Network (1INCH) token showed a promising rise in value, closing at $0.4832 with a 2.90% increase.
The 1INCH Network now boasts a market capitalization of approximately $563.5 million, marking a 2.90% rise within the last day. Based on market cap, this places 1INCH at the 130th position in global cryptocurrency rankings.
Trading volume for 1INCH surged by 22.18% over the same period, amounting to over $128 million. This significant volume increase underscores the token’s growing trader interest and market momentum.
