As a seasoned analyst with over two decades of market observation under my belt, I can confidently say that these memecoins – $PEPE, $WIF, and $BRETT – are poised for a potential surge, given the current trends. However, the key factor to watch out for is Bitcoin’s rebound, as its dominance over the crypto market is undeniable.
As a researcher, I find myself eagerly anticipating the potential surge in memecoins such as $PEPE, $WIF, and $BRETT. These coins seem poised to take off swiftly, but it’s crucial to note that their progress hinges on the ongoing upward trend of $BTC. If Bitcoin continues to climb, these memecoins might just be the ones to lead the pack out of the starting gate.
Watch for Bitcoin rebound
As a researcher examining the cryptocurrency landscape, it’s clear that Bitcoin holds an undeniable dominance with a share of 57.54%. When Bitcoin exhibits a minor cold (like a sneeze), the rest of the altcoins seem to catch a chill. Conversely, when Bitcoin experiences a surge, the top altcoins can only aspire to keep pace.
Among altcoins is the memecoin niche. Nobody can doubt just how hard this niche can surge, at least when Bitcoin is playing ball. So as Bitcoin prepares to continue its latest rally, with an incoming rebound, the memecoins could once again be let off the leash.
$PEPE first stage of reversal completed
The PEPE token’s price appears to have initiated a reversal of its downward trajectory. It seems that we are witnessing a pattern of both higher highs and higher lows, suggesting the trend may continue upward. Currently, the price has returned to the horizontal support level at 0.00000837 cents, indicating a potential bounce from this point or along the upward trend line could occur soon.
At the 0.618 Fibonacci level, there’s a horizontal resistance line present, which the price has previously been unable to surpass. A possible upcoming rebound might attempt to break through this barrier, potentially leading to a test of the primary downtrend.
$WIF needs to break out of channel
Since the end of March, the price of $WIF has consistently dropped. Now, five months later, $WIF is attempting another reversal from its descending pattern. This reversal has started due to a new high point (higher high) and a subsequent higher low.
The trend should persist, and it’s probable that the WIF price will return to the peak of its range. This could occur alongside a retest of the 0.618 Fibonacci level. If WIF can successfully breach this point, it might soon appear at the channel’s top.
$BRETT coming to strong support – bounce likely
The price of BRETT has mimicked the past two meme-tokens by reaching new highs and lows, but it’s currently struggling to break through the resistance at $0.010270. However, if we look ahead, a potential rebound might occur near the horizontal support zone ranging from $0.0825 to $0.0783, which aligns with an ascending trend line.
These three graphs show a positive trend, yet remember, these meme-based coins can gain momentum only when Bitcoin resumes its upward movement. Now let’s turn our attention to the reigning cryptocurrency…
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2024-08-27 14:16