Will meme coins lead the rebound?
Recently, meme coins have been very quiet as everyone's attention is focused on Bitcoin.
With interest rate cuts approaching in the early morning,
Is it time for meme coins to rebound?
On the daily chart, DOGE is in an ascending channel,
Just touching the bottom of the channel, currently at a good support level.
If it rebounds from here, the top of the channel is about 0.50, and if it breaks and confirms above,
It may look towards around 0.60, depending on the breakout position.
If it breaks below the bottom of the channel and creates a lower low, then the uptrend is negated.
Currently, the possibility of trend continuation is high. Over the past nine days, PEPE has been in a local downtrend,
Almost testing the top of the bull flag, has retested 0.618 Fibonacci and may retest the bull flag trendline and 0.786 Fibonacci. Due to the main trend being upward,
It is expected that the price will not fall back into the bull flag pattern,
But if it breaks below 0.00001730, it will form a lower low,
However, this level is a good support. WIF seems ready to rebound,
Having fallen to the deepest Fibonacci level of 0.786, which is also a strong support level.
If the price breaks through, the ascending trendline and the descending trendline of historical highs will become good support.
In summary, these three meme coins seem ready to rebound, largely depending on Bitcoin. In the current situation, Bitcoin will either rise or remain relatively stable in the short term, with a low probability of a significant pullback.
