Dogwifhat (WIF) price predictions signal an 8% increase during the Asian trading session on Tuesday, marking it as a top gainer on CoinMarketCap. This sharp upswing resulted in a breakout from a six-month downtrend resistance, indicating the potential for further rallies.

After a two-month consolidation, WIF has shifted its correction trend to sideways trading above the $1.25 support. The recent surge followed a 0.5% rate cut by the Federal Reserve and signifies renewed bullish momentum. Notably, the price plummeted 77% from $4.86 to a low of $1.08 prior to this breakout. Renowned trader BluntzCapital has highlighted the significance of this breakout, hinting at the possibility of a major rally ahead.

The Relative Strength Index (RSI) at 62% suggests room for further upward movement, with predictions of a 50% surge toward the $2.89 resistance. Additionally, a spike in the funding rate indicates strong buyer interest. However, a minor pullback to the breached trendline may occur before a post-breakout rally, while a retest within the wedge structure could invalidate the bullish outlook, risking a drop to the $1.25 support.