The post Meme Coins BRETT, FLOKI, SHIB Ready To Rally Despite Bitcoin Slowdown! appeared first on Coinpedia Fintech News
Undeterred by the slowdown of Bitcoin and some of the top coins, the rest of the altcoins are starting to heat up. Alongside, TRON and Bittorrent, these meme coins could surge for a breakout this week. So, let’s look at the price chart of these memecoins, to ride potential bull runs.
Meme Coins Worth Buy:
BRETT (BRETT)
The BRETT meme coin shows a massive overnight surge of 14.52%. However, the price brushed its high at $0.1194 before closing at a conservative price of $0.089. As the meme coin fails to assert dominance above the $0.10 psychological mark. The broader market questions the possibility of an uptrend.
However, the recent double-bottom formation in a falling channel pattern teases an upward continuation. Furthermore, the support of a bullish crossover in the MACD indicator, along with the bullish divergence, sets a positive atmosphere.
The overnight price jump forms a bullish engulfing candle and completes a morning star pattern. This increases the possibility of an uptrend to the overhead resistance trendline near $0.1125. However, the bearish crossover in the 150-day SMA warns of a bearish continuation from $0.10.
A breakout of the ODR will test the 50% and 100% trend-based Fibonacci levels at $0.1482 and $0.2246, respectively. A bearish reversal from the $0.10 will put the additional risk at the $0.071 support level. Further, upon a potential breakdown, the meme coin can drop to $0.050 near the support trendline.
FLOKI (FLOKI)
The FLOKI price action forms a falling wedge pattern in the daily chart. The bearish influence over the meme coin is evident with the recent death cross between the 50 and 200-day SMA.
Furthermore, the increasing supply pressure warns of a 100-day and 200-day SMA bearish crossover. However, the recent consolidation, combined with the sideways trend in meme coin prices, forms the double-bottom reversal possibility.
The underlying sentiments are bullish as the FLOKI price hangs near the $0.0001101 support level. With a 7.17% jump last night, a bullish engulfing candle teases an up-cycle to the overhead resistance trendline.
The meme coin currently trades at $0.0001256 with an intraday gain of 0.77%. As the trend momentum grows, the possibility of an overhead trendline breakout increases.
The potential upside targets for the meme coin are $0.0001834 and $0.00021. Conversely, a bearish reversal will stress the $0.001101 support level. The next support level is at $0.00010.
Shiba Inu (SHIB)
The Shiba Inu price trend shows a projection similar to the other memecoins. With a falling wedge pattern in the daily chart, the meme coin finds support at $0.000001288, resulting in a lateral shift in price trend.
With the underlying sentiments improving, the SHIB forms a double-bottom pattern. Furthermore, the overnight jump of 2.33% last night helps the Shiba Inu price form a morning star pattern.
Currently, it is trading at $0.000001372 with an intraday gain of 0.59%. Further, the bullish trend momentum is increasing, evident by a bullish crossover in the MACD indicator.
However, the bearish crossovers in the 50-day, 100-day, and 200-day SMA achieving a bearish alignment warn of a deeper correction. Nevertheless, the uptrend is potentially ready to challenge the overhead trend line.
A bullish breakout can result in a price jump to $0.0000020 before heading higher to the next resistance at $0.000002732. On the flip side, the next support level under $0.000001288 is at $0.0000010.
