The broader market starts early, with Bitcoin preparing a bounceback from the crucial psychological support of $60,000. As meme coins are the bull run torchbearer this year, smart money closely follows trend reversals and the launch of new and trending coins.
With the market on the verge of a bull run, the recent surge in the meme coins presents a buying opportunity for massive gains. As the prices of trending coins like the BOME, BONK and BRETT surge, should you consider buying them for a 100% gain next week?
The BOME token price action reveals a declining trend in the daily chart after the all-time high formation in the early days. As it recedes from the $0.020 mark, the meme coin price action leads to a resistance trendline.
However, with the declining trend taking support at the $0.0082 level, the meme coin forms a descending triangle pattern. Further, the bullish crossover in the MACD and signal lines bolsters the uptrend reversal chances.
The BOME price reclaims the psychological mark of $0.010 with a weekly return of 24.18%, creating a bullish engulfing candle. Considering the bull run continues, the BOME price can break above the resistance trendline.
In such a case, the meme coin can surpass the $0.020 mark next week with the breakout run.
With a bullish recovery from a long-coming support trendline, the BONK price action ends the 50% correction phase. The bull run restarts from the 23.60% Fibonacci level and accounts for a surge of 17.81% this week.
Further, the bullish reversal with a channel breakout leads to a bullish crossover in the MACD and signal lines. This bolsters the upcycle chances in the meme coin as the trading volumes hike.
Hence, with the underlying reversal in the sentiments and the breakout rally, the uptrend in BONK can reach the $0.000055 mark.
With a bullish reversal from the support trendline in the 4H chart, the BRETT price surpasses the overhead trendline. The end of the correction phase comes with a triangle breakout in the 4H chart and teases a bullish continuation next week.
For retest, the meme coin reveals a pullback to the 50 EMA, forming a double bottom pattern. Further, as per the trend-based Fibonacci levels, the BRETT token price sustains above the 23.60% mark at $0.15419.
Considering the uptrend sustains, the meme coin could reach the 1.618% Fibonacci level at the $0.35 mark.
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