With Bitcoin ($BTC) heading back up once more, some of the altcoins are breaking out. That said, the memecoin niche is the one to watch. Shiba Inu ($SHIB), ($DOGE) and ($BRETT) are among those leading the charge.
$SHIB continues to take out the highs
Source: TradingView
$SHIB is looking good on the daily time frame. The price has broken up through the ascending trendline and has taken out all the highs except for the last local high at $0.0000407. If the price can get above the current resistance at $0.0000305, and consolidate above, the assault on the local high at $0.0000407 can begin.
$DOGE building continuation pattern
Source: TradingView
On the weekly time frame for $DOGE, it can be seen that the price has been climbing a mountain over the last few weeks. It can also be noted how the price touched the 0.618 Fibonacci beautifully before being rejected.
It looks like the $DOGE price is perhaps currently building a flag or some other continuation pattern. This might take some time to play out, but it then might be expected that the resistance will break, and the final climb to the all-time high at $0.74 can begin.
$BRETT lays down price structure on top of support
Source: TradingView
$BRETT is nicely positioned according to the daily chart. The price perfectly reached the 0.5 Fibonacci before being rejected, but price structure looks to be being built above what has become support at $0.19. Expect the price to consolidate above this support before continuing higher. The next price targets are in the chart.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
