3 hours ago
3 ARTICLE AD
Most memecoins have been well and truly smashed down over the last few weeks. However, a market pivot could be coming as the new Trump administration prepares to take office. Dogecoin (DOGE), Pepe (PEPE), Bonk (BONK) and Dog Wif Hat (WIF) could run wild. Where to buy?
Clear weekly picture for $DOGE
Source: TradingView
The weekly chart for $DOGE gives a clear picture. Support has held well over these last few weeks, and especially the major horizontal support at $0.31. Here was probably the place to buy, although anyone who bought the bottom of the wick that went all the way down to $0.26 would have done extremely well indeed.
As things stand, some horizontal resistance, plus the 0.382 Fibonacci have been reached. A return to at least $0.34 is likely, with buys all the way down to $0.315 providing a good position. If the price came all the way back to $0.28, this would be an excellent level to buy more. Upside targets are the Fibonacci levels above.
$PEPE heading for major supports - will it get there?
Source: TradingView
$PEPE looks to have been rejected from the $0.000018 horizontal price level. The weekly candle has already been down to retest the 0.618 Fibonacci, so it is to be wondered whether it will go lower than this. If it does, the dip could go all the way down to the bull market support at $0.000012, which would be the deepest Fibonacci level of the 0.786. Buys could start to be allocated at $0.00001560 and could be increased in value if the price comes lower.
$BONK not far from major supports and bull market trendline
Source: TradingView
$BONK is moving towards the base of its own bull market trendline. That said, there are very strong support levels at $0.00002500 and $0.00002100. The latter would also probably coincide with the aforementioned ascending trendline. Buys at $0.00002500 and below may provide an excellent position.
Trade $WIF with caution
Source: TradingView
$WIF is really plumbing the depths. Dropping out of the long-time triangle did nothing to improve the prospects of this memecoin. If a gamble is to be made here, one might wait for the price to fall to around $1.100, which is the level of the 0.786. This would also form a triple bottom. Buying before this level is reached may be akin to trying to catch a falling knife. Trading on $WIF should be treated with utmost caution.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
