WIF Holds $0.8573 After Breaking Trendline, Eyes $0.9015 Resistance With Wave (2) Structure Complete

WIF rose 2.4% to $0.8573 after breaking out of a descending diagonal and reclaiming the EMA.

Support has formed at $0.8232, with resistance overhead at $0.9015 as price exits the wave (2) structure.

The breakout marks the end of the local pullback and suggests the start of a potential wave (3) advance.

Dogwifhat (WIF) has broken above a key descending diagonal and the EMA, confirming the end of its local corrective structure. The current price sits at $0.8573, up 2.4% in the last 24 hours. WIF has now established a clear support level at $0.8232, while resistance remains overhead at $0.9015

This movement comes after the completion of its initial impulse wave, labeled (1)-(5), and a brief local pullback. Price now tests the early stages of a potential third wave, setting the stage for the next major trend leg.

WIF Breaks Wedge, Reclaims EMA

Following a sustained downtrend that spanned months, WIF formed a clear five-wave structure up from local lows. The move culminated in wave (5) near the recent peak, after which a diagonal correction emerged

Source: (X)

This consolidation unfolded beneath the EMA and within a tightening descending wedge. However, price has now broken above that diagonal, closing above the moving average for the first time since the pullback began. This confirms a shift in the local trend structure.

Wave (2) Appears Complete as Price Tests Resistance

After finding local demand near $0.8232, prices began to form a higher low. The diagonal breakout indicates that wave (2) may now be complete. This level now acts as a short-term floor. Meanwhile, the price continues pressing toward the immediate resistance at $0.9015. The completion of wave (2) allows room for a possible third wave development, depending on price action over the next sessions.

Source: (X) Market Prepares for Possible Extension Toward Wave (3)

Based on current structure, WIF may be initiating its next leg within a larger wave count. The breakout above the wedge and EMA supports this possibility. Price continues to trade within a developing channel, with next targets positioned above current resistance. However, for confirmation, price m