With Trump's victory in the US presidential election, Pepe, Bonk, and FLOKI all saw rises of over 10% on Wednesday.
All three meme coins are circling important levels, and a break through there would mean more profits.
The prospects of continued higher momentum for PEPE, BONK, and FLOKI are increased as the RSI and MACD are becoming positive.
Pepe (PEPE), Bonk (BONK), and FLOKI (FLOKI), three of the most popular meme currencies, all saw double-digit price increases after Trump's election on Wednesday. The three meme currencies are reportedly circling important levels, and a breakthrough may propel them higher, according to the technical analysis.
PEPE has the potential to surge if it manages to close above its declining trendline.
Wednesday saw a 15.65% increase in pepe price, which ultimately finished at $0.0000093, surpassing the 50-day Exponential Moving Average (EMA). It is trading over $0.000010 as of Thursday's writing, having broken above the declining trendline.
A 24% increase from where it is now would put PEPE back on track to retest its 61.8% Fibonacci retracement level at $0.000012, if the daily candlestick breaks above the falling trendline and closes above $0.0000099.
On the daily chart, the Relative Strength Index (RSI) is showing increasing bullish momentum with a reading of 59, which is higher than its neutral level of 50. On Thursday, the daily chart's Moving Average Convergence Divergence (MACD) indicator will exhibit a bullish crossing, signaling a buy signal and suggesting that the price is likely to continue its upward trend.
Nevertheless, the bullish thesis would be rendered useless if PEPE is unable to surpass the falling trendline and instead falls, ultimately closing below its 50-day exponential moving average (0.0000093). In such a case, Pepe's price would fall further, perhaps retesting its low of $0.0000077 from November 4th.
If BONK closes over the critical resistance level, it is poised for a gain of double digits.
After a 17.5% rally on Wednesday, the price of Bonk finished at $0.000020, surpassing its 50-day exponential moving average. It is encountering resistance from its falling trendline as of Thursday, when it is trading slightly lower at about $0.000022.
If BONK manages to close above its daily resistance level of $0.000025 and breaks above its falling trendline, it has the potential to rise 32% from there and retest its 61.8% Fibonacci retracement level at $0.000033.
On the daily chart, the relative strength index (RSI) is pointing upwards at 55, which is higher than its neutral level of 50, suggesting that there is growing bullish momentum. On Thursday, the daily MACD indicator will become positive, signaling a buy signal and rising momentum, according to the chart.
To the contrary, if BONK is unable to overcome the falling trendline and ends the day below its 50-day exponential moving average support at $0.000020, it will prolong the 15% slide until it reaches its next daily support level at $0.000017.
There is hope for the FLOKI price.
After finding support at Monday's daily low of $0.00011, the price of FLOKI surged 14% on Wednesday, closing above its 50-day exponential moving average (EMA) at $0.00013. The current value is roughly $0.00014 as of Thursday's writing.
If the 50-day exponential moving average ($0.00013) remains as support and FLOKI ends the day above the $0.00015 resistance level, it has the potential to extend the rally by 20% and retest its high of $0.000188 on July 27.
With a reading of 53 on the daily chart, the relative strength index is showing signs of increasing bullish momentum, above its neutral threshold of 50. In addition to what was already said, the daily chart's MACD indicator is going to become positive on Thursday, much as BONK's chart.
But if the 50-day exponential moving average ($0.00013) doesn't hold, FLOKI will continue to drop until it reaches its daily support ($0.00011).