PEPE, FLOKI, and WIF Price Analysis: Here's What to Expect as Crypto Winter Approaches
- 王林Original
- 2024-09-01 00:27:14997browse
The popular memecoins have been stuck within a steep bearish trend in the past seven days, losing 20% of their gains on average
Memecoins, a class of cryptocurrencies inspired by popular internet memes, have been subjected to a steep bearish trend over the past seven days, collectively losing an average of 20% of their gains. While newer memecoins, such as POPCAT and MEW, have encountered massive selling pressure, established tokens like PEPE, FLOKI, and WIF have demonstrated resilience amidst the bearish heat. As crypto winters approach, here's what to expect from these tokens.
Pepe (PEPE) Price Analysis
The price of PEPE is converging towards the apex of a crucial symmetrical triangle formation while remaining stuck along the support levels. The volatility of the token has dropped significantly in recent days, accompanied by a decrease in volume. As the bulls exhibit waning interest in elevating the price levels, could the bears drag the levels below the range?
The RSI indicator showcases a strong ascending trend along the ascending trend line, indicating the presence of bulls. In contrast, the MACD displays a drop in buying volume, being positioned within the negative range. Hence, PEPE price is expected to trade along the lower support of the triangle, followed by a bullish breakout above $0.0001.
FLOKI (FLOKI) Price Analysis
FLOKI's price lost a majority of its gains following a significant rejection from the levels above $0.0003. The bulls are全力以赴 (all out) to defend the crucial support zone between $0.00012 and $0.00013. If the bulls manage to break above the zone before the conclusion of the monthly trade, the FLOKI price is expected to trigger a fresh bullish upswing.
After losing over 60% in the past couple of months and more than 20% in the past couple of days, the bulls are preparing for a bullish reversal soon. However, after rebounding from the lows, the FLOKI price has been maintaining a consolidated ascending trend, aiming to hit the upper threshold in a short while. Additionally, the price remains within the bullish range of the supertrend, which suggests a rebound above $0.00015 could be imminent.
dogwifhat (WIF) Price Analysis
While the WIF prices have demonstrated large moves in the recent past, the overall trend has remained stuck under a strong bearish influence. The price continues its trade within a descending parallel channel, holding within the upper bands. Now that the technicalities remain within a bearish range, the bearish possibility below $2 emerges while remaining within a bullish influence.
The token has been experiencing a notable rise in volume, which suggests a significant rise in the trader's interest in the token. Although the trend remains stuck within a bearish range, the rise in volatility may eventually flip the trend in a short while. Moreover, the rising RSI suggests some possibility of testing the upper resistance of the channel. Therefore, if the bulls display some strength at these levels, a breakout beyond the range may be imminent, elevating the levels close to $2.5.
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