Technical analysis by MS0199 about Symbol WIF: Buy recommendation (5/2/2025)

🚀 WIF (Dogwifhat) might be gearing up for a major breakout.After months of decline, the weekly chart is showing a potential reversal setup directly from the most significant accumulation zone.🔍 Technical Overview• Descending Channel (since early 2024):Price has been respecting a long-term falling wedge/channel.The recent bounce off the lower boundary could mark the beginning of a trend shift.• Massive Support at $0.58–$0.60:This zone aligns with the highest volume node on the VPVR — clear accumulation.Price is consolidating tightly here, hinting at reduced selling pressure and possible re-accumulation.• Rounded Bottom in Progress:The structure is curving gradually upward — a classic "rounded bottom" formation.Increasing volume confirms growing interest.📈 Targets• Primary Target: $2.00–$2.50 — major volume cluster and resistance zone• Breakout Target: $3.50–$4.20 — upper boundary of the descending channel• If broken — could lead to price discovery during meme season⚠️ Risks• Fakeout and return to the $0.60 range if momentum fades• Bitcoin dominance rising above 54% could delay altcoin flows• Lack of meme hype may lead to sideways or stagnant movement📌 Catalysts to Watch• Drop in BTC dominance (BTC.D) could trigger rotation into altcoins• If BOME, PEPE, or FLOKI start pumping — WIF is likely to follow• Exchange listings, partnerships, or viral buzz can ignite momentum✅ Trade Setup Summary• Entry Zone: $0.60–$0.70• Stop-loss: below $0.58• Targets: $2.00 → $3.50–$4.20• Risk/Reward: Highly favorable with strong support beneathConclusion:If meme season returns, WIF could go vertical. The accumulation zone looks mature — now it’s just a matter of ignition timing. Watch for social sentiment and BTC.D rotation triggers.