Memecoin Outperform AI-Tokens, WIF, BRETT & BONK Price Rises While DOGE & SHIB Consolidate
The post Memecoin Outperform AI-Tokens, WIF, BRETT & BONK Price Rises While DOGE & SHIB Consolidate appeared first on Coinpedia Fintech News
The start of the day’s trade witnessed the AI tokens leading the rally as AGIX & FET prices launched a 20% rise. As the trade progressed, the gains consolidated within a range, paving the way for the memecoins to gain the top spot. At present, the dogwifhat (WIF) price is leading the rally, followed by Bonk (BONK) & Brett (BRETT). Moreover, the other memecoins are also gaining acute strength, suggesting they outperform the popular tokens in the market.
What’s Next? Will they close the monthly trade on a bullish note?
dogwifhat (WIF) Price Eyes at 30% Rise
dogwifhat price faced a 50% pullback after failing to sustain within a crucial resistance zone between $3.2 and $3.5. The constant bearish candle had created huge fear among the market participants but the steep rebound at the ‘last point of defence’ has induced bullish momentum within the token. Therefore, the price is expected to undertake a ‘v-shape’ recovery for the next few days and close the month on a positive note.
After the launch, the price soared and began to consolidate within a range-high and a range-low zone, which was broken off. Now that a rebound has been initiated, the possibility of reaching the upper resistance appears imminent, which is validated by the bullish reversal of the RSI. However, the DMI remains neutral at the moment and the levels are heading towards a bullish reversal. Hence, the WIF price is expected to consolidate for a while, followed by a rise beyond $2 very soon.
Brett (BRETT) Advances To New Highs Above $2
The price had been trading within a rising wedge since the beginning of the quarter and rose along the lower support of the wedge. Despite a breakdown from the wedge, the price bulls are defending the lower support zone between $0.128 and $0.121, which also collides with the 0.618 FIB at $0.125. However, technicals have turned bullish and hence a 20% upswing seems to be imminent.
While the price remains consolidated between 0.618 & 0.786 FIB levels, the RSI has displayed a bullish divergence. With this, the price initiated a rebound but with a limited buying volume, the price may extend its consolidation within the range. The price has been failing to surpass $1.55 for over a week and hence, until a huge influx of buying volume enters the platform, the trend may remain unchanged.
Bonk (BONK) Price Eyes a New ATH
Among all the memecoins, Bonk has been displaying acute strength as the trade remains under bullish influence. Although the bears amplified their activity at frequent intervals, the rally maintained an ascending pattern. Hence, the memecoin is expected to maintain a strong ascending trend and eventually mark the upper resistance, once it surpasses some crucial levels.
The BONK price initiated a rebound soon after it dropped below $0.00002 and is testing the mid-range of the pattern. The volume remains within an average range, largely dominated by the bulls and hence the trend is expected to remain inflated. Besides, the RSI has rebounded from the lows and the MACD is about to display a bullish crossover, suggesting a 30% rise may kick in soon.
