FLOKI Inu & Pepe Price Poised for a 25% Upswing; While Dogecoin Price May Remain Restricted

FLOKI Inu & Pepe Price Poised for a 25% Upswing; Dogecoin Price May Remain Restricted

Original source: Coinpedia Fintech News

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The crypto markets have exhibited heightened volatility since the month's commencement, with market participants displaying diminishing patience towards the prevailing price action. Despite the volatility, trading volume remains below average, a cause for concern in recent times. Amidst these dynamic market conditions, certain altcoins, notably memecoins, have demonstrated remarkable resilience.

With a subtle shift in market dynamics, FLOKI INU (FLOKI), Pepe (PEPE), and Dogecoin (DOGE) have garnered significant gains. While the former two memcoins are projected to sustain a bullish trajectory, DOGE is anticipated to remain within a restricted rally.

FLOKI Inu (FLOKI) Price Analysis

Following a recent surge, the FLOKI price became entrapped within a steep downtrend, unable to penetrate the upper trendline. After a fierce struggle, the bulls successfully elevated the price beyond this crucial resistance. Consequently, the price is poised to initiate a fresh upswing, potentially reclaiming lost ground by the weekend.

The accompanying chart indicates that substantial action is yet to transpire, as the Bollinger bands maintain a parallel trajectory despite the breach of the upper trendline. Additionally, the RSI has signaled a bullish reversal from its average range, corroborating the bullish outlook. Therefore, the FLOKI price is expected to rally and reach the key resistance zone between $0.00025 and $0.00026 before the week's conclusion.

Pepe (PEPE) Price Analysis

The PEPE price has exhibited intriguing price movements in recent days, with the bulls leading the charge and neutralizing bearish sentiment. Although the rally was initially confined within a descending parallel channel, a breakout propelled the price to revisit its yearly highs. Currently, the token appears poised to continue trading in a discovery phase, establishing new highs on a daily basis.

The robust bullish influence facilitated a breakout above the descending parallel channel and the resistance wedge, which could have triggered a significant plunge. However, a minor pullback may be anticipated as the bulls exhibit some weakness following the recent breakout. Consequently, the PEPE price is expected to retrace to the resistance-turned-support level below $0.00001, subsequently triggering a substantial upswing towards $0.000013.

Dogecoin (DOGE) Price Analysis

The Dogecoin price has also embarked on a nascent bullish spell, with prices inflating by over 10% since the early trading hours. However, the bulls appear to lack significant strength, as they struggle to breach above the descending trendline. Therefore, it seems likely that the price may encounter another rejection and remain consolidated within a range.

The DOGE price rally differs slightly from FLOKI and PEPE, as it remains under bearish influence. Notably, the stochastic RSI indicates a bullish divergence and the possibility of consolidation within the upper range, akin to the lower accumulation phase witnessed in April. Hence, the Dogecoin price is anticipated to break above the trendline, although the $0.16 level may act as a barrier. If the bulls can overcome this resistance, a new yearly high could be imminent.