FLOKI and PEPE Memecoins Price Analysis: Will the Rally Continue?

Bitcoin price is surging! The top-traded token has soared above $61,000 which has circulated bullish waves across the markets. With this

Bitcoin price surged above $61,000 on March 23, boosting the prices of memecoins like floki inu (FLOKI) and pepe cash (PEPE). FLOKI price is displaying bullish cues, targeting a 15% upswing, while PEPE price struggles to reach $0.00000886 amid bearish cues.

FLOKI price displayed a massive rise in the past few months and attracted traders’ attention while the volume remained within a decent range. However, after triggering a rebound from the lows at $0.000011, the price maintained a 25% rise and pierced beyond a critical resistance zone between $0.00012 and $0.000132. Hence, the token may continue to maintain a steep ascending trend and head towards the upper target.

The FLOKI price surged above the range, but the major price action is yet to begin. Despite the price rise, the Bollinger bands do not appear to have expanded while the price is trying to rise above the upper bands. Besides, the +Di & -Di levels of the DMI are about to undergo a bullish crossover, which may validate another 15% upswing. Hence, the price is believed to rise above $0.00016 anytime in the next few days, which may validate a rise above $0.0002.

PEPE price triggered a rebound from the interim lows around $0.00000724, but a trend reversal from bearish influence is yet to be validated. The rise does not appear to be a flip but rather forms another lower high. With this, the token possesses the possibility of rejection in the coming days, as rising beyond $0.000008 appears to be a tedious job for the PEPE price rally.

The PEPE price has accumulated enough gains in the past few days but has failed to reclaim the resistance above $0.00000925. This suggests the presence of bearish activity amid the growing bullish strength. The OBV and RSI have triggered a bullish reversal. While RSI maintains an ascending trend, OBV is showing the possibility of a bearish divergence. Therefore, a drop in the OBV may validate a shift to the bearish trend, which may compel the PEPE price to hit the lower resistance. However, a rise above the interim resistance may invalidate the bearish thesis.

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