WIFIDR Breaks Below Key Averages, Bearish Momentum Confirmed by Sharp Early Trade

Summary
• WIFIDR dropped 3.6% over 24 hours, closing at 3859.0 after a sharp decline from 4000.0.
• Volume surged at 0430 ET with a 350.0-unit trade, confirming bearish momentum.
• Price remains below key 20-period and 50-period moving averages.
• RSI near oversold levels, suggesting potential for short-term rebound.
• Bollinger Bands constricted prior to the downward breakout, signaling increased volatility.

The dogwifhat/Rupiah (WIFIDR) pair opened at 4000.0 on 2026-02-07 at 12:00 ET, reached a high of 4000.0, and closed at 3859.0 at 12:00 ET on 2026-02-08. Total volume was 421.52, with turnover amounting to 1,682,487.17.

Structure & Formations

The 24-hour candlestick pattern reveals a strong bearish bias, particularly after the sharp decline from 3950.0 to 3859.0 in the early morning hours. Key resistance levels include 3950.0 and 4000.0, with support at 3859.0 and 3833.0. A notable bearish engulfing pattern formed at 0430 ET, confirming the downward shift in sentiment.

Moving Averages

On the 5-minute chart, the 20- and 50-period moving averages are both below the current price, reinforcing the bearish trend. While daily MAs (50/100/200) are not computed here, the recent 5-minute MA crossover suggests short-term bearish momentum may persist.

MACD & RSI

The RSI has dipped into oversold territory (~30), potentially signaling a short-term bounce. However, the MACD remains bearish with a negative histogram, indicating that downward pressure could remain.

Bollinger Bands

Prior to the sharp drop, Bollinger Bands were constricted, suggesting a potential breakout. The move below the lower band confirms increased volatility and reinforces the bearish bias.

Volume & Turnover

Volume spiked sharply at 0430 ET with a 350.0-unit trade, coinciding with the price drop to 3859.0. This confirms the bearish move. Turnover increased alongside volume, with no significant divergence observed between the two metrics.

Fibonacci Retracements

From the 4000.0 high to the 3859.0 low, the 38.2% retracement level is at 3938.6 and the 61.8% is at 3895.8. Price appears to have found initial support near 3859.0, suggesting it may test the 61.8% level next before rebounding.

In the next 24 hours, WIFIDR could test key support levels, with a potential bounce from 3859.0. However, the bearish momentum remains intact, and a break below this level could accelerate further declines. Investors should monitor volume and RSI for signs of a reversal or continued bearish continuation.