PEPE and Bonk Memecoins Hints A Breakout Rally Amid Increasing Bullish Market Sentiments

With the increasingly bullish sentiment in the cryptocurrency market, altcoins from top categories have recorded a significant uptrend in valuation over the past few days.

Amid bullish market sentiment, several altcoins have witnessed a significant uptrend in the past few days. As Bitcoin price approaches its upper resistance level of $70,000, memecoins have also seen a massive price surge.

Top memecoins have seen a double-digit gain in their respective portfolios, highlighting the bullish sentiment.

Continue reading as we cover the market sentiments, price analysis, and potential short-term price targets of Pepe and Bonk memecoins in this article.

PEPE Memecoin Indicates A Breakout Rally:

Pepe price has surged 26.31% in the past 24 hours, successfully breaking its resistance trendline after trading within the descending channel pattern since May, indicating positive price action for the memecoin.

Technical indicators SMA and MACD show a strong bullish reversal in its 1D time frame, suggesting that PEPE crypto will continue gaining value this week.

If the market maintains the Pepe coin price above its crucial level of $0.00001150, the bulls will prepare to test its upper resistance of $0.00001410. On the other hand, if the trend reverses, the price will retest its low of $0.00000880.

Bonk Price Set To Test Its Crucial Resistance Level:

BONK price continues trading within the ascending channel pattern amid ongoing bullish price action, indicating an increase in buying-over-selling sentiment in the market. Moreover, the memecoin has surged 10% in the past day with a trading volume of $472.072 Million.

RSI indicator has continued hovering above its mid-point since the month started, indicating constant bullpower for the BONK memecoin in the crypto space.

If the Bonk memecoin breaks out of its channel pattern, it will prepare to test its upper high of $0.00003390. However, a negative price action could pull the price toward its low of $0.00002125 in the upcoming session.

Also Read : Meme Coin Investors Line Up For These Tokens For The Next Bull Run

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