The post Memecoins Hints Bullish Move! Solana-based Tokens To Outperform Top Altcoins In May? appeared first on Coinpedia Fintech News
The crypto industry continues displaying a mixed price sentiment amid increased volatility among the top crypto tokens. Positively, the market leader, BTC, has reclaimed the $62K mark within the past day, resulting in the market experiencing a positive inflow in its digital assets.
However, the memecoin category has displayed a strong bullish reversal by adding significant valuation to their respective portfolio. Furthermore, top meme tokens added approximately 10% each within the past seven days, indicating a bullish outlook for these tokens during the upcoming week.
dogwifhat (WIF):
After trading under a bearish influence for the past month, this Solana-based memecoin has recorded a bullish jump by adding approximately 16% within the past two days. Moreover, the WIF price has formed a symmetric triangle pattern in the 1D time frame and continues to trade within it.
TradingView: WIF/USDTMoreover, the dogwifhat price is on the verge of testing 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 displays a constant green histogram in the 1D, hinting at an increase in the buying sentiment within the crypto space. Furthermore, the averages show a positive curve, suggesting the price will continue trading under a bullish influence during the upcoming week.
If the bulls break out of the resistance trendline, the WIF price will prepare to test its upper resistance level of $3.90. Negatively, a trend reversal could pull the price toward its support trendline in the coming time.
BOOK OF MEME (BOME):
The BOME price has experienced a jump of 10.86% within the past day and has recorded a 24-hour trading volume of $248.162 Million, a change of +30.43% over the past day. Moreover, at the time of writing, its weekly gains stood at +23.71%, indicating a rising bullpower in the crypto industry.
TradingView: BOME/USDTThe technical indicator, RSI, shows a constant rise toward the over-bought range, highlighting a strong bullish reversal in the crypto industry. Moreover, the average shows a bullish curve toward the mid-point, indicating a positive price sentiment for the BOME memecoin in the coming time.
If the market continues to trade under a positive sentiment, the Book Of Meme price will prepare to test its important resistance level of $0.0123 by next week. Conversely, if the bears gain control over the bulls, the price will plunge toward its lower support level of $0.00990 this month.
