Altcoins Show Resilience Amid Market Volatility

Altcoins Exhibit Resilience Amidst Market Fluctuations

The cryptocurrency market experiences heightened volatility in anticipation of US inflation figures and the Federal Open Market Committee (FOMC) interest rate decision. Amidst this uncertainty, select altcoins, including Pepe (PEPE) and Bonk (BONK), emerge as potential catalysts for market recovery.

PEPE's Reversal Potential

PEPE, a notable memecoin, demonstrates resilience amidst the market downturn. Retesting the 50-day Exponential Moving Average (EMA), PEPE displays a period of consolidation. However, recent price increases, including a 5.41% overnight gain and an intraday rise of 1.04%, signal a potential reversal.

Technical indicators align with a positive outlook for PEPE. The Moving Average Convergence Divergence (MACD) and signal lines indicate a bullish crossover in the positive territory. Post-FOMC, PEPE's price could potentially reach its all-time highs, with an optimistic target of breaking $0.000018 and reaching $0.000020.

Bonk's Bullish Expectations

BONK, another popular memecoin, also exhibits indications of reversing its downtrend. Trading within an ascending channel formation, BONK recently fell beneath the 50-day EMA. Despite these setbacks, the altcoin's price action suggests a potential end to its correction phase.

BONK forms a bullish "morning star" pattern near a significant support level, signaling a recovery. An intraday increase of 3% reinforces this bullish trend. Overcoming selling pressure, BONK could transition from downtrend to uptrend, with a possible price target of $0.00003756.