WIF Price Hits Resistance at Upper Bollinger Band

The price of WIF has reached $0.21 after a nearly 7% increase in 24 hours, but momentum is dwindling as it approaches the upper Bollinger Band at $0.22.

Retail traders are piling into long positions, with 63.5% of them holding longs on Binance Futures, while top traders are running a slightly lower ratio of 66.5% long.

The derivatives market is experiencing a collapse in open interest, down by 10.67% over the last 24 hours, which suggests that long positions are being closed.

With the RSI at 79 and the MACD histogram flat, it's clear that buyers are no longer leading this tape, and sellers have taken control of the intraday flow.