Bitcoin Plunges Ahead of FOMC & CPI, While PEPE & BONK Demonstrate Extreme Strength: Here’s What to Expect!

Bitcoin Plunges Ahead of FOMC & CPI, While PEPE & BONK Show Strength

Amidst a market shift, major cryptocurrencies are facing selling pressure. Bitcoin has fallen below $68,000, and Ethereum hovers around $3500. However, memecoins PEPE and BONK are defying the bearish trend.

PEPE Price Analysis

PEPE trades within an ascending parallel channel, indicating potential bullish continuation despite recent pullbacks. Support at $0.00001 has held, and a recent recovery has attracted buying volume. The RSI shows bullish divergence, suggesting a reversal in bearish momentum. PEPE may target a new ATH near $0.000018.

BONK Price Analysis

BONK follows a similar trend, with the price dipping below its 50-day MA. However, bulls have pushed the price higher for the day. Resistance at $0.000003 needs to be overcome for a breakout. The MACD shows declining selling pressure, and a consolidation period may precede an upswing towards $0.000035.

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