Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

DOGWIFHAT PRICE ANALYSIS & PREDICTION (February 8) – WIF Aims Lower Amid Bearish, Targets $0.5 Despite Recent Rejection

WIF remains the largest meme coin on the Solana ecosystem but has lost its bullish track amid rising supply in the past months. The overall market structure looks bearish and now follows a negative bias daily. After failing to break above its previous peak of $5 last November, WIF lost momentum and formed a double-top. This led to a steady drop for two months before breaking below the key $1 level this month. That generated a lot of FUDs in the market but the meme coin managed to recover after swiftly rejecting the $0.63 level earlier this week. With the recent meltdown, it is noteworthy to say the bears are now in control. Technically, the bulls are currently off this market. But for those looking to reaccumulate for a long-term return, WIF currently provides another big buying opportunity on the mid-term scale, and from the look of things, the discount could last to the key $0.5 level – where the price broke out a year ago – before rebounding. Looking at the daily chart, it is still losing momentum despite the recent rejection. A collapse below this week’s low could cause more reductions until it finds a threshold. Now, WIF remains bearish on the daily chart. WIF’s Key Levels To Watch Source: Tradingview WIF currently trades an inch away from the holding $0.63 support. A breakdown from there could take the price to $0.48 and potentially $0.334 before rebounding. The $0.975 level is considered an immediate resistance in case of a buy. Retaking $1 could allow more buys to $1.377. The next key resistance levels to watch for a strong recovery are $2, $3 and $4 in the near term. Key Resistance Levels: $0.975, $1.377, $2 Key Support Levels: $0.63, $0.48, $0.334 Spot Price: $0.73 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! CoinOtag

---

ARBITRUM PRICE ANALYSIS & PREDICTION (February 8) – ARB Sits at Support, Negotiating Next Major Move After Posting a 30% Weekly Loss

ARB’s performance has been poor since it lost a key price level in mid-December. As a result, the trend is now considered super bearish following a back-to-back drop since the start of the year. Following the latest downturn across the crypto space, ARB has shed over 50% loss in a month and as we can see, it is now trending bearishly again on the daily timeframe after rejecting a yearly low a few days ago. This came after failing to push above $1.3 late last year. Losing buzz, it broke below the key $1 level and closed that year at $0.75. The year started with a recovery but later halted due to a sharp rejection. That rejection led to another drag down and the trend remained bearish throughout January. Unfortunately, the bleeding continues due to rising supply and the price plunged heavily to a year $0.345 low. Despite registering a major loss in the past week, it is still demonstrating signs of weakness on the daily chart. It is on the verge of breaking lower while trading at critical support at the time of writing. A continuous drop in volatility could cause a bigger loss before recovering. ARB’s Key Level To Watch Source: Tradingview While negotiating the $0.45 support, the closest level for a test right now is $0.4 and the recent $0.345 low, marked as the lowest level in the past year. Right below this level lies the key $3 and $2 level. The $0.515 level stopped the bulls recently. If they push back above it, the higher level to consider as resistance is $0.613, followed by $0.75. Key Resistance Levels: $0.515, $613, $0.75 Key Support Levels: $0.4, $0.345, $0.3 Spot Price: $0.45 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: panuwatsikham/ 123RF // Image Effects by Colorcinch CoinOtag