LIVE$FLOKI Since late February, Pepe, the meme coin inspired by the frog theme, has embarked on an upright rally, bouncing back from a low of $0.00000115. This upward trajectory has resulted in an impressive 280% increase in its price, now trading at $0.00000435.
Analyzing the daily chart reveals that this rally is forming a classic bullish reversal pattern known as a rounding bottom. This pattern signifies a prolonged period of accumulation, marking a smooth transition from a bearish to a bullish trend.
With the Pepe coin price achieving an 11.53% gain today, it is teasing a critical breakout point at the $0.00000448 neckline resistance. Should this breakout occur, it could significantly boost buying momentum, setting the stage for Pepe to reach a potential price target of $0.00000836.
Within a month, the Floki coin witnessed parabolic growth with its price rallying from $0.000027 to $0.000117, registering 338% growth. This upward trajectory gave a decisive breakout from the resistance trendline of a symmetrical triangle pattern, signaling the end of a long accumulation phase.
However, the Floki price experienced a fresh supply pressure at $0.000131 evidenced by the long wick rejection in the daily chart. This resistance may trigger a minor pullback as a massive price hike is often followed by such retracement to recuperate exhausted bullish momentum.
The anticipated correction may find suitable support at $0.000107 and $0.0000992, offering traders a new dip opportunity.
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