Will Dogwifhat (WIF) surpass $1.29 or remain stuck in the consolidation process?

Spot Taker Cumulative Volume Delta (CVD – the accumulation volume delta difference of the spot taker ) 90 days of Dogwifhat (WIF) is currently skewed towards the buying side, indicating strong market demand at the time of reporting. Traders have continuously absorbed selling pressure, keeping market momentum skewed towards accumulation.

Source: CryptoQuantThis dominance reflects the traders' strong belief in the potential value increase in the future as they continue to open positions despite market volatility.

The activity of the buying side often leans heavily towards one side, which typically signals significant price fluctuations are about to occur. The continuous control of the buying side indicates confidence and suggests that WIF may soon undergo a strong growth phase.

Traders' trust is increasingly rising

Open Interest – OI( has increased by 8.65%, reaching a level of 397.72 million USD, indicating rising speculative demand in the derivatives markets. This increase suggests that many traders are preparing for volatility, especially when combined with the dominance of the buying side, as the overall sentiment leans towards bullish.

An increase in OI often amplifies price fluctuations, as leverage can increase both profits and risks. However, high positioning also means a greater risk of strong liquidations if market momentum shifts suddenly.

![Will Dogwifhat )WIF( break through the level of $1.29 or remain stuck in the consolidation process?])https://img-cdn.gateio.im/webp-social/moments-3f1be5a3fb51f10cbc2b37bccebf4a11.webp(Source: CoinGlass## Potential reversal ahead?

The daily chart has outlined a solid rounded double bottom structure, with support formed at the level of 0.87 USD and the neckline resistance near 1.29 USD. If the bulls can generate a breakout above this resistance level, the pattern may confirm a medium-term reversal, with targets exceeding 1.40 USD.

The smooth curve of this structure indicates continuous accumulation over time, reflecting the strong confidence of investors. The dots of the Parabolic SAR also support a gradually strengthening trend.

![Will Dogwifhat )WIF( break through the $1.29 level or continue to be stuck in the consolidation process?])https://img-cdn.gateio.im/webp-social/moments-683297bcdd122e897fbac08e917c1a0b.webp(Source: TradingViewHowever, if it cannot break through the resistance level, the price may be stuck in a sideways accumulation phase, leaving $0.87 as an important support level.

WIF: Net inflow leans towards Accumulation

The net cash flow on the exchange remains negative, with an outflow at the time of reporting of -1.69 million USD. The continuous withdrawals indicate that the selling pressure is decreasing, as investors transfer WIF out of trading platforms.

This behavior aligns with the structure of a bullish chart, indicating the preference of investors to hold onto their assets rather than sell in the short term. Although there have been some inflows of capital at certain points, the overall trends have remained negative in recent months.

![Will Dogwifhat )WIF( break above the level of $1.29 or remain stuck in the consolidation phase?])https://img-cdn.gateio.im/webp-social/moments-25dfe87160687be62bc9afe0288b0c91.webp(Source: CoinGlassIn summary, the dominance of buyers, increasing open interest, a positive double bottom structure, and continuous outflows from the exchange all indicate a positive outlook for WIF. With momentum leaning towards accumulation and buyers maintaining control, WIF is well-positioned to break above the resistance level of $1.29.

A confirmed breakout at this level will validate the double bottom pattern and pave the way towards higher targets, indicating that the market has shifted from an Accumulation phase to recovery.

Mr. Giáo