News
BONK Loses Grip, WIF, FLOKI, BOME Prices Crash!
Crypto markets appear to be recovering as Bitcoin price surges above $59,000. This move appears to have extracted maximum liquidity as volumes of the popular memecoins have dried up by over 40%. This may raise suspicions as to whether the memecoin craze has died down or if this is just a small pullback before the next bullish move.
FLOKI price remains consolidated within a range
FLOKI Price has touched the same support zone that triggered a strong bounce during every bearish event. In the past, the price has initiated a quick and strong bounce with a minimum of 25% gains; however, the recent reversal failed to gain the required momentum. Hence, the price, which is struggling hard to secure levels above $0.0002, is likely to face a massive bearish action near $0.00017, which is one of the important trend reversal zones.
FLOKI price seems to have recovered but the token continues to remain under bearish pressure. The rising positive sentiments could help the price rise above $0.00018 but the bulls may not make it to $0.0002 as the bears may take over the rally as the Ichimoku cloud remains bearish. On the other hand, the RSI is anchored at the lower support and has failed to rise above the mid-levels for over a month. Therefore, the price could face a 15% upside followed by a 25% pullback, landing back at its initial range.
dogwifhat (WIF) price may trade in a tight range this week
dogwif hat price fell below the crucial support zone between $2.26 and $2.18 and despite a bounce, the token failed to break above it, indicating the growing influence of the bears. The -Di of DMI showed a bearish divergence, which suggests the growing strength of the bears. Hence, a bearish crossover is expected in the coming days, which may cut prices sharply.
The price is accumulating in a tight range as it gathers strength for the next price action. Secondly, the RSI is trying to move higher by forming consecutive higher highs and higher lows, which indicates increasing bull strength but may not indicate increasing bull dominance. Hence, WIF price is expected to remain consolidated between resistance and support for a while, probably till the end of the first fortnight.
However, BONK price is trying hard to revive a strong uptrend while bulls are yet to stabilize their strength while bears are preparing for the next action. On the other hand, Pepe price is also struggling to stay above the crucial support. Therefore, memecoins seem to be outperformed by major tokens as Bitcoin and Ethereum are attracting huge volumes.