Memecoins
Memecoins hints at a bullish movement! Will Solana-based tokens outperform top Altcoins in May?
The crypto industry continues to display mixed price sentiment amid increased volatility among major crypto tokens. Positively, the market leader BTC reclaimed the $62,000 mark over the past day, leading the market to witness a positive inflow of its digital assets.
However, the memecoin category showed a strong bullish reversal by adding significant valuation to their respective portfolios. Additionally, major meme tokens have added around 10% each over the past seven days, indicating a bullish outlook for these tokens in the coming week.
dog hat (WIF):
After trading under a bearish influence over the past month, this Solana-based memecoin recorded a bullish jump by adding around 16% over the past two days. Furthermore, the WIF Price has formed a symmetrical triangular pattern during the 1D period and continues to trade within it.
TradingView: WIF/USDT
Furthermore, the what price for my dog is about to test its resistance trendline, the outcome of which is uncertain. Positively, the simple moving average (SMA) supports the price action, highlighting a strong bullish influence in the crypto space.
The MACD is showing a steady green histogram in the 1D, hinting at an increase in buying sentiment in the crypto space. Additionally, the averages show a positive curve, which suggests that the price will continue to trade under bullish influence in the coming week.
If the bulls break out of the resistance trendline, WIF price will prepare to test its upper resistance level of $3.90. Negatively, a trend reversal could pull the price towards its support trendline in the coming times.
BOOK OF MEME (BOME):
THE BOME price saw a jump of 10.86% over the past day and recorded a 24-hour trading volume of $248.162 million, a change of +30.43% over the past day. Additionally, at the time of writing, its weekly gains stood at +23.71%, indicating growing power in the crypto industry.
TradingView: BOME/USDT
The technical indicator, RSI, shows a steady rise towards the overbought range, highlighting a strong bullish reversal in the crypto industry. Additionally, the average shows a bullish curve towards the midpoint, indicating positive price sentiment for the BOME memecoin in the coming times.
If the market continues to trade in positive sentiment, the Meme Book Prize will prepare to test its important resistance level of $0.0123 by next week. Conversely, if the bears take control of the bulls, the price will plunge this month towards its lower support level of $0.00990.
Also discover: Will these top Meme Coins perform well in May?