The recent upswing seems to have reduced buying volume, causing the markets to consolidate within a narrow range. Meanwhile, memecoins like Pepe, FLOKI, and Bonk have shown decent growth, tracking major tokens.
Despite the growing bearish influence, dogwifhat (WIF) prices have continued to rise, along with BOOK OF MEME (BOME).
Dogwifhat (WIF) Poised for a New Upswing
Since the token began trading, bulls have tightly controlled the rally, with dogwifhat (WIF) maintaining an upward trend. Despite facing some bearish challenges, the recent upswing has pushed prices above the trendline. As a result, WIF is expected to start a new ascent, aiming for $3.35 soon.
dogwifhat (WIF): TradingView
Currently, WIF is trading within a decisive triangle and has reached the consolidation apex. The MACD is close to a bullish crossover, signaling entry into the positive range, while the RSI hovers around the average. This indicates a potential influx of bullish volume that could drive the price towards the local resistance level between $3.27 and $3.56. If the bulls reach and hold this zone, WIF could begin a fresh upswing, targeting new highs above $5.
BOME Price Resilient Amid Bearish Pressure
The BOME price has largely withstood bearish pressure, trading along the lower trend line. A recent upswing has pushed the price above the local high of $0.012681. Despite a slight increase in selling pressure, the bulls seem confident in initiating a fresh bullish phase.
BOME: TradingView
From a technical perspective, the RSI is trading along the lower trend line and is nearing the upper threshold. Additionally, the supertrend indicator has just turned bullish, suggesting a shift in favor of an upward trend. As a result, the BOME price is expected to maintain a healthy upswing and reach the next target of $0.015 in the coming days.
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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