The memecoins have begun to rise as Bitcoin displays massive stability after the recent upswing. The bears failed to drag the levels lower, which suggests the markets could have probably risen despite the bearish influence. As a result, prices of dogwifhat (WIF), FLOKI & Bonk have managed to attract massive gains. Here’s why a memecoin mania appears to be imminent before a potential AltSeason.
dogwifhat (WIF) Price Aims for 80% Recovery
The weekly chart of WIF price suggests the memecoin has begun with a recovery after undergoing a correction
The price dropped below the neckline of the double-top pattern after facing a rejection, a couple of times from the ATH
The RSI has triggered a bullish divergence, which suggests the price is in between a strong recovery
However, the weekly Gaussian channel has turned bearish which raises concerns over the next price action
Therefore, the WIF price is required to secure $0.8 before the weekend which may invalidate bearish trajectory and a potential push towards $1
FLOKI Price Could Reach $0.0001
The FLOKI price has risen above the bearish captivity as the recent rise has helped the token to break the bearish pattern
After breaking above the resistance of the descending parallel channel, the FLOKI price maintained a strong upswing and rose above the pivotal range at $0.00006858
As the volume rises, the CMF also surged above 0 with a steep increase to 0.12, indicating a massive rise in the money flow
However, the token is yet to validate a breakout that could happen once the price closes and begins the fresh day’s trade above $0.00007
Once done, the FLOKI price is believed to squash a zero from its’ value and reach the pivotal range at around $0.00011.
Bonk Price at a Decisive Phase-May Trigger a 25% Rise
The BONK price has reached the neckline of the double bottom pattern and is experiencing a notable pullback
The RSI has maintained an incremental approach, which suggests the rising strength of the bulls
On the other hand, the Ichimoku cloud has just turned bullish as the price has risen above the cloud, and hence the cloud could act as a strong support
Hence, if the BONK price sustains within the range, a breakout could push the price towards the resistance just below $0.00002, which is weak, resulting in a pullback
Therefore, the BONK price is believed to maintain a consolidated ascending trend and rise above the resistance to enter the range between $0.000025 and $0.000026
Sahana Vibhute
A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.
