Despite its bearish market structure, WIF (Dogwifhat) has shown signs of a potential bullish recovery. The cryptocurrency's buying pressure surged last week, hinting at a possible change in sentiment. However, the price action has yet to confirm an uptrend.

WIF's price chart reveals a series of lower lows and lower highs since early June, with a rejection from the $3.8-$4 resistance zone leading to a sharp decline. The Awesome Oscillator has been below the zero line for three weeks, indicating bearish momentum. However, a recent increase in buying pressure and trading volume has pushed the oscillator higher, signaling a potential shift in momentum.

The cumulative liquidations levels delta, which measures the difference between buy and sell orders, has been negative, leading to a price bounce from $1.9 to $2.15. While short-sellers have been encouraged by recent losses, the balance has been skewed, and short positions may be hunted for liquidity before the next move.

According to AMBCrypto's analysis, the short-term bias leans bullish, with targets at $2.2 and $2.3. A retest of these levels could lead to a continuation of the prior downtrend. It's important to note that the cryptocurrency market is highly volatile, and predictions are subject to change.

In conclusion, while WIF's bearish trend remains intact, the recent surge in buying pressure and trading volume offers a glimmer of hope for buyers. As the market continues to evolve, it's essential to stay informed and adapt to changing conditions.