DOGWIFHAT (WIF) Price Rebounds 18% Overnight, Bullish Momentum Returns

After yesterday's market correction, WIF has demonstrated renewed strength with an 18% overnight surge, signaling fresh bullish momentum on daily charts. The meme coin briefly surpassed a multi-week high and is now approaching a crucial resistance level.

Following early-week market turbulence that triggered panic selling across cryptocurrencies, altcoins are recovering strongly. WIF leads today's top-performing meme coins as positive market sentiment fuels its upward trajectory. The asset had been forming a bullish pattern since last week before the correction, but has now regained momentum with significant capital inflows over the past 24 hours.

Currently trading comfortably above $0.90, WIF eyes a decisive breakout above the psychologically important $1 level. Such a development could trigger substantial upside movement in coming sessions. While May's high presents a technical hurdle, clearing this resistance would confirm short-term bullish dominance.

The bears have currently retreated, though their return with selling pressure could spark rapid declines. A break below June's support levels would signal renewed downside potential. However, current indicators suggest bulls maintain control.

Key technical levels:
Resistance: $1 (psychological), $1.39, $1.75
Support: $0.64, $0.52, $0.40
Current price: ~$0.94
Market outlook: Bullish
Volatility: Elevated

Disclaimer: This analysis does not constitute investment advice. Conduct thorough research before making any cryptocurrency investments.