WIF: This one is CRUCIAL

The price of WIFUSD is moving in a pennant on the daily chart. Due to the recent sell-of in the market, the price is now sitting at a major support. This moment is crucial for WIF!

Bullish Case:

• A strong reaction from the buyers, forming a V-shape recovery with $3 as our next technical resistance
  
• A small retrace followed by push to the trend-resistance at $3.60
  

Bearish Case:

• WIF is breaking through the support within the next two days with $2.26 as the next short-term support
  
• A re-test of the trend resistance (previous support) followed by another drop to the key support level at $1.95
  

Is this a necessary cool-off period for meme coins? Share your thoughts in the comments and boost this idea if you agree with it.

Cheers,
Ares