Relighting the hopes of a bull market, the overnight reversal in Bitcoin projects a potential recovery in the altcoins. With the BTC price back to $56,500 and Ethereum above $3,000, the altcoins market is quick to bounce back.
Bitcoin's overnight price surge has sparked optimism in the altcoin market, with several meme coins and other altcoins poised for a rebound following the recent market crash.
As the broader market anticipates a bullish reversal, several promising cryptos are worth considering for purchase now.
Dogwifhat (WIF) Crypto Poised for a $3 Target
With a 25% surge in 24 hours, WIF coin's price trend is swiftly recovering from the market crash. The crypto has resurfaced above the 61.80% Fibonacci level, setting the stage for a potential reclaim of the $2 psychological price point.
Chart: Tradingview
Trading at $1.98 with an intraday gain of 3.54%, the meme coin has formed a double bottom pattern, with a neckline at $2.43. This level also coincides with the 50% Fibonacci level, rendering a breakout crucial for a substantial price surge.
With minimal price rejection and a bullish turnaround, WIF crypto's price suggests a promising bullish move towards the $3 price target.
Shiba Inu (SHIB)
Following the market crash, SHIB's price trend encountered the declining support trendline of the falling channel pattern. However, a bounce from this crucial trendline positions the meme coin for an upcoming rally within the pattern.
Chart: Tradingview
SHIB trades at $0.000015, up 18% in 24 hours, bolstering the morning star formation. A significant trend reversal pattern at a critical support zone bodes well for SHIB crypto's price.
Based on the daily chart, SHIB coin's price could reach the $0.000020 mark next week.
BONK (BONK)
Amidst the market crash, BONK's price sustains above the backbone support trendline of the larger-term uptrend. A double bottom formation and lower price rejections suggest a potential bounce-back for the meme coin next week.
Chart: Tradingview
The crypto finds support at the 78.60% Fibonacci level and trades at $0.000021988. If the broader market recovers, the meme coin could rally to the $0.00003217 price point next week.
The above is the detailed content of Top Meme Coins to Buy as the Crypto Market Expects a Reversal. For more information, please follow other related articles on the PHP Chinese website!
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