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Memecoins are bouncing back as the market becomes bullish before the spot Ethereum ETF launch. Tokens like PEPE, FLOKI, and WIF, which had been trading in a narrow range, recently broke out due to the positive price movement.
After Bitcoin reclaimed the $63,800 resistance zone, the market, especially memecoins, has turned very bullish. Despite BTC’s rise from below $60,000, top memecoins struggled, with PEPE failing to get back to $0.00001, which frustrated investors. However, FLOKI has made a strong rebound and is leading the day’s top performers. Here’s what to expect from PEPE, FLOKI, and DOGWIFHAT prices this week.
PEPE Price Rally: Potential to Reach $0.000015 Amid Bearish Concerns
Pepe’s price had been trading within a narrow range just below $0.00001 for nearly a week. After building significant strength, it has sparked a rally and regained a bullish range, aiming to reach $0.000015. Despite this upward trend, bearish signals could slow the rally’s progress.
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The price has entered a rising parallel channel, but concerns about a pullback persist as it approaches the upper threshold of the Bollinger Bands. Additionally, the RSI is nearing the overbought zone. However, the lower support of the channel could provide a solid foundation, potentially helping the bulls push the price above $0.00001325. Overall, the PEPE price rally remains within bullish limits and might reach $0.000015 with further positive movement.
FLOKI Price Poised for Strong Upswing After Ending Bearish Trend
The recent rebound has ended a month-long bearish trend that followed a rejection from levels above $0.0003. The bulls have revived a strong upward trend, with FLOKI now working to clear resistance at $0.0001919 after stabilizing at $0.00016. Technical indicators have turned bullish, suggesting that FLOKI is likely to continue its ascent towards the upper target above $0.0002.
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Since marking a new all-time high (ATH), FLOKI has been trading within a set range. The supertrend has turned bullish, and bulls have regained control. Consequently, the price is expected to rise steadily and reach the upper resistance zone between $0.000244 and $0.000251. Following this, the token might form a new ATH close to $0.0004 in the near future.
WIF Price: Horizontal Consolidation Expected Amid Weak Bullish Momentum
Unlike other top-traded memecoins, WIF is anticipated to experience horizontal consolidation as bullish momentum appears weak. After a significant rise from the lows of around $1.51, the price surged to the resistance zone between $2.15 and $2.27. It is expected to remain within these levels due to the current weakness of the bulls.
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Despite a 25% increase, WIF remains under bearish influence, with technical indicators showing a neutral stance. The On-Balance Volume (OBV) has risen from the lows but has not surpassed average levels. Although there is a slight increase in buying volume according to the MACD, the price is expected to hover around the resistance zone. A clear breakout of these levels could lead WIF to follow a strong ascending trend, reaching the upper resistance zone.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.