Dogwifhat Plunges Below Critical Averages - $0.80 Support Line Now Make-or-Break Territory

Dogwifhat's technical foundation cracks as price action breaches key moving averages.

Technical Breakdown

The meme coin slices through support levels that traders watched for months. Every bounce attempt gets smacked down by selling pressure that just won't quit.

Critical Support Test

That $0.80 zone isn't just psychological—it's the last line of defense before potential freefall. Break that, and you're looking at charts that resemble a crypto winter flashback.

Market psychology shifts from 'buy the dip' to 'how low can it go?' Traders who chased the hype now face the classic crypto dilemma: average down or cut losses.

Another day, another 'fundamental technical analysis' proving that in crypto, sometimes the only thing predictable is the unpredictability—but hey, at least the transaction fees are lower than your portfolio balance.

Key indicators reinforce the cautious tone: the RSI is oversold, suggesting a brief rebound, while the MACD remains negative, warning that any bounce may be limited without a shift in sentiment. Immediate support stands at $0.80, with resistance NEAR $0.90.

On the daily timeframe, the altcoin consolidates inside a symmetrical triangle, forming a corrective B-wave pattern that may precede a C-wave breakout. Analysts highlight potential upside checkpoints at $2.92, $4.20, $5.24, and $7.54, provided the token closes decisively above the triangle’s upper boundary.

Price Drops Below Key Moving Averages

Dogwifhat is trading at around $0.87 after dropping 2.9% in the past 24 hours. The token’s market capitalization stands at $873 million with a 24-hour trading volume of approximately $123 million. During the latest session, the asset opened near $0.88, briefly moved above $0.90, and then reversed downward.

WIFUSD 24-Hr Chart | Source: BraveNewCoin

On the hourly chart, dogwifhat remains below the 5, 10, and 20-hour moving averages. Analysts view this setup as a sign of sustained downward momentum. Trading volume increased during the late-day decline, indicating strong selling pressure. Market observers suggest that the token must reclaim key moving average levels to restore short-term strength.

Momentum Indicators Show Bearish Bias

The Relative Strength Index (RSI) is in oversold territory, suggesting that the token may experience a short-term bounce. However, the Moving Average Convergence Divergence (MACD) remains negative and below its signal line. This combination signals that the downward trend is still in place, and any recovery attempts could face strong resistance.

WIFUSDT Chart | Source:x

Immediate support sits near $0.80, a level that traders are closely watching. However, if this area fails to hold, it could face additional downside pressure. Resistance is located around the previous consolidation zone near $0.90, and a sustained move above that point WOULD be needed to reverse the bearish outlook.

Daily Chart Shows Symmetrical Triangle

A broader view from More crypto Online shows the altcoin consolidating within a symmetrical triangle pattern on the daily chart. Price is moving between converging trendlines, which analysts consider part of an ongoing corrective phase labeled as a B wave. The formation suggests that the market is in a pause before making a more decisive move.

WIFUSDT Chart | Source:x

The analyst also outlines an orange scenario pointing to a possible C-wave to the upside after the consolidation ends. Fibonacci projections identify potential resistance targets at $2.92, $4.20, $5.24, and $7.54 if bullish momentum develops. A confirmed breakout above the upper trendline would be required to activate these upside levels.

Key Levels to Watch for Next Move

For now, Dogwifhat continues to oscillate within the triangle while holding above the lower trendline. Failure to hold the lower boundary would extend the corrective phase and weigh on near-term prospects.

Intraday trading shows that support around $0.78–$0.80 helped stabilize recent declines and allowed a modest rebound. Still, analysts stress that maintaining the $0.80 support is essential to prevent deeper losses. A recovery toward $0.90 is needed to shift momentum back to buyers and open the door to a stronger MOVE higher.

The current position below key moving averages, combined with oversold momentum indicators and a defined support zone, frames a cautious market environment.