Will meme lead the rebound?
Recently, meme coins have been quiet as everyone's attention is focused on Bitcoin.
With the interest rate cut imminent,
Is it time for meme coins to rebound?
On the daily level, DOGE is in an ascending channel,
Just touching the bottom of the channel, currently at a good level of support.
If it rebounds from here, the top of the channel is around 0.50. If it breaks through 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 upward trend is negated.
Currently, the possibility of the trend continuing is relatively high. In the past nine days, PEPE has been in a local downtrend,
Almost backtesting the top of the bullish flag, has re-tested the 0.618 Fibonacci level, and may backtest the bullish flag trend line and the 0.786 Fibonacci level. Due to the main trend being upwards,
it is expected that the price will not fall back into the bullish flag shape,
but if it breaks below 0.00001730, it will form a lower low,
but this level serves as a good support. WIF seems to be preparing for a rebound,
Having dropped to the deepest Fibonacci level of 0.786, which is also a strong support level.
If the price breaks through, the upward trend line and the historical high point's downward trend line will serve as good support.
In short, these three memes seem to be preparing for a rebound, largely depending on Bitcoin. In the current situation, Bitcoin is either going up or relatively stable in the short term, with a low probability of a significant pullback.
