- The crypto market is currently in a phase of indecision, with Bitcoin struggling around $69,000. Despite this, several altcoins are experiencing bullish trends:
- PEPE is up 62% over the week, has broken its previous all-time high, and could be poised for more gains, though its RSI suggests a possible short-term profit-taking.
- UNI is up significantly on both daily and weekly charts, after breaking above a major resistance.
- Lido has surged over 50% in a week, breaking above a key resistance level and targeting even higher prices.
- BONK is reflecting a resurgence in the memecoin sector and is up 25% over the week.
The cryptocurrency market remains in a state of flux, with neither bulls nor bears able to claim clear dominance. Bitcoin's price action is indicative of this uncertainty, as it hovers around the $69,000 mark, just shy of the pivotal $70,000 threshold.
Currently, Bitcoin's price is teetering at the $69,000 level, a stone's throw away from the significant $70,000 mark. The cryptocurrency’s performance at this crucial juncture could very well dictate the overall market direction in the coming days.
Despite the prevailing chaos, certain cryptocurrencies are exhibiting promising recovery signs. Here are five noteworthy cryptocurrencies to watch this week:
1. PEPE (PEPE)
PEPE has dipped by approximately 1.5% in the past 24 hours, mirroring the general market trend. At present, PEPE trades around $0.00001522, marking an impressive 62% gain over the past week. This bullish momentum follows PEPE's breakthrough past its previous all-time high of $0.00001 last week, pushing it into uncharted territory.
PEPE is trading above most of its key moving averages, signifying strong bullish dominance. However, the daily Relative Strength Index (RSI) indicates an overbought condition, suggesting that a profit-taking phase might be imminent.
2. Uniswap Token (UNI)
UNI has seen a 5% increase in the daily timeframe and a 45% rise over the past week. Currently priced at $11.37, UNI has surpassed the resistance level between $9.5 and $10.38, aiming for a retest of the $11.8 local high from April 8. Should UNI break above this level and maintain its bullish momentum, it could signal the beginning of a rally towards the $17 high from March 6.
3. Lido (LDO)
Lido has shown bullish behavior across all timeframes, with a 3.3% increase over the last day and a 51% rise in the past week. Recently, Lido breached the critical resistance level at $2.3 and is now testing the $2.685 mark. Continued upward pressure from the bulls could see Lido reclaim the $4 price level in the near future.
4. Pendle Finance (PENDLE)
Pendle experienced a minor 1.2% decline intra-day but boasts a significant 41% gain over the past week. Trading at around $6.85, Pendle has been on a bullish trajectory since finding support at $3.8. The cryptocurrency is on track to surpass the $7.54 high from April 11, potentially targeting $8.34 or higher this week.
5. Bonk (BONK)
The memecoin market is witnessing a resurgence, with BONK showing notable strength. Despite a 4% drop over the last day, BONK has risen by 25% in the past week. Trading around $0.00003449, BONK broke past the $0.00003060 resistance on May 20 and has been consolidating above it since. The bulls are expected to end this consolidation phase and push BONK upwards, possibly reaching $0.0004800 or higher.
Disclaimer: Voice of Crypto strives to provide accurate and up-to-date information. However, it is not responsible for any missing facts or inaccuracies. Cryptocurrencies are highly volatile financial assets, so please conduct your own research and make informed financial decisions.
#BTC #PEPE #UNI #LIDO #BONK
