Dogwifhat Price Aligns With Wave 3 Breakout Targeting $22 Cycle Peak
The post Dogwifhat Price Aligns With Wave 3 Breakout Targeting $22 Cycle Peak appeared on BitcoinEthereumNews.com.
Dogwifhat (WIF) has returned to the spotlight after completing a key retracement phase that analysts say positions it at the start of a major bullish wave. Technical patterns, on-chain activity, and market cycle alignments now point toward a potential breakout structure with targets far beyond the current range. With the price holding key support zones and volume stabilizing, the next move may determine the trajectory for the rest of the cycle. Market watchers have focused on the unfolding Elliott Wave structure for insights into the token’s next major levels. Elliott Wave Structure Highlights Multi-Leg Uptrend Analyst Paul Webborn has charted an Elliott Wave pattern showing Dogwifhat progressing through Primary Wave C, which is subdivided into five intermediate legs. According to the chart, Intermediate Wave 2 recently concluded, paving the way for the onset of Wave 3. This wave often reflects the most significant price movement in Elliott Wave theory, and in this case, it carries an initial target range of $4.70 to $6.86. Webborn’s analysis assumes symmetry with Wave A, placing the overall projection for Primary Wave C near $22. Source: X Supportive technicals back the bullish structure. The price has respected the 0.236 Fibonacci retracement level around $0.83, confirming it as a base for the next move. Additionally, Fibonacci extension targets at $8.74, $12.09, and $29.85 align with previous market inflection points and fit within the mapped five-wave advance. The resistance zone near $1.00 remains a crucial level that must be surpassed to validate the formation. Until that level is breached with volume, the wave count remains conditional, though structurally intact. Short-Term Indicators Reflect Market Hesitation The daily chart reveals signs of cautious trading after a strong July rally. The current price sits near $0.891 after a 3.78% correction, staying below the recent $0.93 peak. The formation of lower…
