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.
Pepe’s price chart. TradingView
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.
FLOKI’s price chart. TradingView
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.
WIF price chart. TradingView
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.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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