Technical analysis by Anakyn about Symbol WIF: Buy recommendation (3/2/2025)

Analysis of WIF/USD Chart Using Elliott Wave Theory1.Elliott Wave Count & Structure:The chart follows a clear Elliott Wave multi zigzag structure.The impulse wave peaked at around $4.86, marking a significant high.The correction followed in a three-wave ABC structure, which seems to have found support at a key Fibonacci level (0.618 - 0.65 retracement).2.Trend Channel & Key Support Levels:A parallel trend channel is visible, where price has bounced off the lower boundary, indicating strong support. Key support zone around 55¢, which aligns with the lower boundary of the trend channel.3.Potential Price Targets & Future Projections:The bullish scenario suggests a Wave Y target above $30 (potentially $36).The large green box in the upper right suggests a potential high-reward zone, likely driven by a new impulse wave (Wave Y).4.RSI Indicator & Momentum Shift:RSI was previously oversold but is now turning upwards, indicating potential momentum recovery. A break above the 50 RSI level would confirm bullish continuation.According to cryptonews.com : The biggest meme coin sensation in 2024!Be careful with meme coinsSo let you guide by BTC and VIX if you want to invest in this coin.