WIF Price Squeezed at Ceiling: Bulls Face Make-or-Break Moment
The price of WIF has been experiencing a significant amount of pressure at its current ceiling of $0.25, with the momentum indicator MACD showing zero momentum and open interest collapsing by 12.74% in 24 hours.
This setup is particularly tense due to the structural context underneath, with every single moving average sitting well below the current price, anchored down at $0.18 on the 200-day SMA.
The technical indicators are not lying, the Bollinger Band reading of 98% means that price is sitting at a high level of compression, and buyers are exhausted at this point.
Smart money is still long on WIF, with top trader accounts on Binance holding a 65.8% long position, but the leverage is getting violently washed out as retail longs get squeezed out.