The post Memecoins Rebound: dogwifhat ($WIF and $BONK (BONK) fight hard to buck the bear trend appeared first on Coinpedia Fintech NewsIt was one of the bad days for the crypto markets as billions market cap just skyrocketed in a matter of minutes.Even though the markets are still bearish, some tokens are fighting hard to eliminate the bearish influence.The prices of popular memcoins dogwifhat (WIF) and Bonk (BONK) are recovering as the platform continues to rise decent buying pressure dogwifhat (WIF) price analysis was in the middle of a "v-shaped" recovery from the lows below $1.5 with a view to reaching above $2.2 by the end of the week huge destruction of almost $100 billion.As a result, prices, which faced a deviation at $2.28, which is in the critical resistance area, fell again to test the key support levels at $1.51. However, prices have started to recover, while the rise above the bearish influence may be confirmed by the bullish close of the day. WIF price has been trading below one of the important support levels between $2.15 and $2.28 since the last few days of June. Unfortunately, an attempt to break these levels was thwarted by the bears, and thus another attempt to drag the levels below $1.5 was also suppressed by the bulls. The RSI has triggered a bullish reversal, while the OBV (on balance volume) shows the possibility of a similar reversal that occurred in the last week of June. As the market sentiment is confused, the price of the dog is expected to remain consolidated in this range until there is a huge amount of buying. Bonk (BONK) Price Analysis Bonk price has been trading within a sharp bearish trend ever since it failed to overcome the crucial resistance between $0.00003973 and $0.00004125. After failing to overcome resistance at the start of the month, the bears have dominated the rally and taken levels down nearly 25% over the past couple of days. Now that the bulls are trying to confirm the rebound, a rally above certain levels could quell the bearish influence for a while. As shown in the chart above, BONK prices are trading within a descending wedge. Despite the huge selling pressure of the token, the bulls managed to keep trading within the pattern, thus keeping the bullish hopes alive. However, the technical indicators do not support the bullish narrative as the OBV has shown a bearish reversal, indicating the start of a bearish trend supported by the MACD, which is about to undergo a bearish crossover. Therefore, the price of Bonk (BONK) may not support the pressure of buyers for a long time, as technical indicators suggest that another pullback to support may only start a new uptrend.
