The recent upswing appears to have drained the buying volume to some extent as the markets have been consolidating within a narrow range. Besides, memecoins like Pepe, FLOKI, Bonk, etc. have displayed decent growth and are also following the major tokens. In the middle of the growing bearish influence, dogwifhat (WIF) prices have maintained an ascending trend, followed by BOOK OF MEME (BOME).
Ever since the token-initiated trade, the bulls have held a tight grip over the rally as the dogwifhat price has maintained an ascending trend. Although the price faced some bearish challenges, the latest upswing raised the levels above the trend. Therefore, the WIF price is now believed to initiate a fresh ascending trend to reach $3.35 soon.
The WIF price has been trading within a decisive triangle and has reached the apex of the consolidation. The MACD is close to initiating a bullish crossover and entering the positive range, while the RSI continues to hover around the average range. This suggests another influx of bullish volume may propel the price towards the local resistance level between $3.27 and $3.56. If bulls reach and sustain within the zone, then the price may begin with a fresh upswing to mark new highs above $5.
The BOME price appears to have withstood the bearish pressure to a large extent. The price has been trading along the lower trend line and the latest upswing has elevated the levels above the local high of $0.012681. Although the selling pressure has risen slightly, the bulls seem to be confident to ignite a fresh bullish spell.
Considering the technical perspective, the RSI has been trading along the lower trend line and is approaching the upper threshold. Besides, the supertrend just turned bullish that suggests the trend has just shifted in bullish favour. Therefore, the BOME price is expected to maintain a healthy upswing and reach the next target of $0.015 in the coming days.
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