Potential Death Cross Puts Dogwifhat (WIF) Price at Risk of Sharp Decline

WIF Ichimoku Cloud. Source: TradingView

The leading span lines, Senkou Span A and Senkou Span B, hint at future support and resistance. The cloud’s thin sections suggest the price could break out if momentum increases. A move above the cloud could confirm a bullish trend, while a drop below may indicate a bearish shift.

Dogwifhat ADX Shows the Current Downtrend Is Not That Strong Yet

WIF’s ADX has risen to 19.07 from around 15 a few days ago, indicating a slight increase in trend strength.

However, an ADX below 20 typically suggests a weak or non-existent trend, meaning that the recent changes in WIF’s price haven’t been strong enough to establish a solid direction.

WIF ADX. Source: TradingView

The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction. Generally, an ADX above 25 points to a strong trend, while values below 20 reflect a lack of clear trend momentum.

Currently, WIF is in a downtrend, but with the ADX still below 20, it suggests that the downtrend lacks strong momentum and could be prone to reversals or fluctuations.

WIF Price Prediction: Death Cross Could Trigger 14% Correction

WIF’s EMA lines currently show a bearish setup, with the price positioned below them and the short-term EMAs nearing a “death cross” as they approach crossing below the long-term EMAs. This formation often signals a stronger downtrend, suggesting that selling pressure might increase if it fully forms.