The post Memecoins $PEPE, $WIF, and $FLOKI still ready to surge when bull market returns appeared on BitcoinEthereumNews.com.

Memecoins have been hit hard over this long and grinding crypto correction. That said, $PEPE, $WIF, and $FLOKI are still well above their bull market support levels, and as soon as Bitcoin ($BTC) gives the green light, all can potentially surge much higher. $PEPE holding support beautifully Source: TradingView The $PEPE price is holding beautifully above the strong support at $0.00000590. The weekly time frame shows the stair steps for the $PEPE price, and it can be seen that price structure is respecting them almost perfectly. In addition, the fibonacci 0.786 level is acting as an extra support, where the price is currently. If Bitcoin ($BTC) can turn around in the next couple of weeks or so, and $PEPE can hold that top stair step, this can serve as a great platform for the next surge skyward. That said, if the top support does fail, and the price confirms below, it is a long way back down to the lower price structure at $0.00000160. $WIF ripe for exiting bull flag  Source: TradingView It may be that the $WIF price is down 3.5% for the day so far, but zooming out into the weekly time frame the price action looks very positive. A bull flag is continuing to form, and the price is currently up against the resistance at $1.60. Below is the bottom of the bull flag, plus the 0.786 fibonacci, also acting as support. If the resistance can be surmounted, it may be that the confluence of the 0.618 fibonacci, and the top of the bull flag could provide the next major hurdle. A breakout beyond this could eventually lead to the blue skies of price discovery above. The Stochastic RSI at the bottom of the chart looks to be starting its climb back to the top. If this…

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Filed under: News - @ September 5, 2024 5:24 pm