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Will NOT & MEW meme coins hit a new all-time high?
With bullish Bitcoin anticipation spreading across the cryptocurrency market, smart money is anticipating a bull run in meme coins. Furthermore, the fact that multiple meme coins like PEPE and FLOKI outperform most other coins strengthens the thesis.
In this meme coin rush, NOT and MEW tokens are gradually making waves with a chance of recovery. Intraday gains and the underlying shift in emotions project a moonshot around the corner.
Will the new meme coins support the prevailing uptrend as the market goes haywire with this week’s FOMC meeting? Let’s take a closer look at the MEW and NOT price charts to answer this question.
Will MEW Token Break Above $0.0065?
With a rounded bottom reversal on the daily chart, the MEW token reveals a trend reversal in play. As the meme coin gains bullish momentum, the end of the correction phase portends a new all-time high.
With a neckline at $0.0065, the uptrend continuation pattern holds the future of the MEW token. A potential rally in this meme coin could cross the psychological threshold of $0.01.
Currently, the meme coin is trading at $0.0055 after an overnight jump of 5.86%. According to Fibonacci levels, the altcoin is holding above the 50% Fibonacci level, increasing the chances of a price increase this week.
A continuation of the altcoin’s uptrend can target the $0.01255 level or the 1.618 Fibonacci level.
The price action is NOT pointing to $0.030 with the end of the correction
With a massive bull run over the past month, the NOT price trend shows an ongoing pullback phase. Turning below the crucial support of $0.020, this asset trades at $0.018, after jumping 3.54% overnight.
Currently, the meme coin reveals a deep pullback preparing for a bullish reversal this week. Furthermore, the bullish crossover in the MACD and signal line supports the bullish trend possibilities in the NOT price trend.
With a bullish comeback, the Notcoin could challenge the Fibonacci level based on the 2.618 trend at 0.02270. Optimistically, a breakout rally could reach the $0.030 mark if the momentum continues.