- WIF Down 87% from ATH: As soon as the largest meme coin within the Solana ecosystem, WIF has plummeted from its March 2024 peak, now hovering at a vital help degree.
- Bearish Indicators Persist: RSI stays beneath 50, and MACD remains to be destructive, suggesting continued draw back danger—a drop to $0.20 is feasible if help fails.
- Breakout or Breakdown? If WIF reclaims $1.40, it might rally towards $3.19, but when it breaks beneath the channel, a new all-time low could also be subsequent.
As soon as a standout performer, WIF skyrocketed almost 3,000% to its all-time excessive (ATH) in March 2024, solidifying itself as the biggest meme coin within the Solana ecosystem. However the glory was short-lived. WIF has since tumbled out of the highest 100, with its value struggling a brutal 87% crash from its peak, hitting a low of $0.55 on Feb. 3, 2025.
Now, with WIF sitting at a main help degree, merchants are asking: Is that this the second for a comeback, or is extra ache forward?
WIF Hits Vital Assist
A take a look at WIF’s weekly timeframe chart tells the story—since April 2024, it has been trapped inside a long-term descending parallel channel. This downtrend consists of a number of decrease highs, together with these in March and November 2024 (crimson markers).
Throughout this brutal decline, WIF fell beneath the channel’s midline and misplaced $1.40 horizontal help, leaving simply one ultimate degree earlier than a brand new all-time low.
Since February, WIF has been hovering across the channel’s decrease boundary, however right here’s the issue—no clear bullish indicators have emerged but. That mentioned, that is precisely the type of degree the place a powerful bounce might occur.
Indicators Flash Bearish—Extra Draw back Forward?
Technical indicators are not portray a reasonably image:
- Relative Power Index (RSI) stays beneath 50, failing to trace at any restoration.
- Transferring Common Convergence/Divergence (MACD) is caught beneath zero, signaling ongoing bearish stress.
If WIF breaks beneath this vital degree, issues might get ugly quick—$0.20 is perhaps the following cease.
Has the Correction Ended?
Regardless of the dearth of bullish indicators, WIF’s wave depend means that the correction may very well be nearing its finish. The construction hints at a accomplished A-B-C sample, the place wave A and wave C are almost equal in size.
Moreover, a five-wave sub-count inside wave C has shaped, additional aligning with the concept a backside may very well be close to.
To affirm this state of affairs, WIF should reclaim $1.40. A profitable push previous this degree might see WIF concentrating on the 0.5-0.618 Fibonacci retracement zone, between $2.69-$3.19.
Closing Verdict—Breakout or Breakdown?
Two situations are in play:
- If WIF reclaims $1.40, count on a push towards the higher channel boundary, probably reaching $3.19.
- If WIF collapses beneath the channel, the decline may very well be half of a bigger wave three drop, that means a brand new all-time low is on the desk.
For now, WIF clings to its ultimate diagonal help. Whereas a development reversal hasn’t been confirmed, wave construction hints that this correction may very well be nearing its final stretch. Whether or not the meme coin levels a miraculous comeback or faces one other leg down—it’s make-or-break time.