This week, three cryptocurrencies—Solana (SOL), Pepe (PEPE), and Dogwifhat (WIF)—grabbed my attention for their recent price action and the formation of key support and resistance levels. Each asset has shown varying levels of activity and volatility, providing clues to its potential future performance.
As Solana continues to climb, PEPE hints at recovery, and Dogwifhat sees renewed buying interest, investors are keeping a close eye on these tokens for trading opportunities.
Solana’s Bullish Momentum
Solana (SOL) has surged to $151.33, up 3.28% in the past 24 hours. The rise came after a break above the $146 support area, which suggests strong bullish momentum.
The price rebounded after a brief pullback to $146.57, a key support level that attracted buyers. Moreover, the price broke above the psychological resistance of $150, making it a new support area. Therefore, if Solana pulls back, this level could act as a buffer for further gains.
However, bulls are currently eyeing the next major resistance at $152, where selling pressure could emerge. Therefore, this price point will act as a critical hurdle for continued gains. As Solana maintains its bullish momentum, the market seems poised for further gains, but traders should be mindful of a possible price pullback.
Pepe's volatile price action
Pepe (PEPE) has experienced significant volatility and is now trading at $0.00001018 after gaining 3.23% in the past 24 hours. Earlier this week, the price dropped to $0.0000095 but quickly recovered, suggesting a possible reversal of the previous downtrend.
Additionally, the 24-hour trading volume surged by 29.51%, indicating growing interest in the token and increased participation from traders.
WIF price drops, BONK, PEPE and SHIB gain attention
The $0.0000095 support level was crucial in reversing the price decline, while $0.0000098 acted as a consolidation zone before the recent rise. Pepe is currently facing resistance at $0.0000104, a level that prevented previous gains.
If the price breaks out of this resistance, it could signal further gains. Traders should keep a close eye on this level as a breakout above it could open the doors for more gains.
Dogwifhat Rekindles Interest
Dogwifhat (WIF) is trading at $2.80, up slightly by 0.41% over the past 24 hours. After falling below $2.70, the price quickly recovered and is currently forming a steady uptrend. This recovery indicates renewed buying interest, especially as the 24-hour trading volume has increased by 36.93%.
The key supports are at $2.65 and $2.70 where buyers stepped in during the price decline. Moreover, the $2.85 resistance level remains a challenge for further gains.
If WIF breaks above this resistance, it could continue to rise. However, traders should remain cautious as the current price is facing a minor resistance at $2.80, which could lead to a pullback if the momentum weakens.
