Ethereum Memcoins! Will Pepe and Floki pump or dump?
As the cryptocurrency market fails to recover from time to time, top tokens are approaching their critical support levels. Following in their footsteps, top memecoins have experienced significant price drops in a short period of time.
Scroll down as we cover market sentiment and short-term price targets for Pepe ($PEPE) and Floki ($FLOKI) meme coins in this article.
Pepe price records integrated price action
After 3 months of bullish trading, Pepe Meme Coin recorded a new all-time high (ATH) of $0.00001718. However, since then, this memecoin has been constantly trading in a dark mood. This made it trade at a 54.51% discount from its high.
The technical indicator, MACD, showed a persistent decline in the green histogram, with the averages registering a potential bearish consolidation. This indicates a negative outlook for the Pepe coin price in the coming week.
If the market gains momentum, Pepe price may be ready to test the resistance of the descending channel pattern above the $0.00000880 level. Conversely, bearish price action could pull PEPE price down to a low of $0.00000625.
Floki Memecoin failed to break the resistance trend line
With insider trading conditions, the value of Floki Crypto Token has registered a decrease of 18.28% to $548.83 million in the last day. It also decreased to 23.89% last month. This indicates a growing bearishness for him in the market.
The Relative Strength Index (RSI) recorded a sharp dip below the overbought region in the 1D time frame. Additionally, the moving average line will experience a bearish confluence, suggesting that MemCoin may continue to lose value in the coming week.
Let's say, a bullish reversal occurs, in which case, FLOKI price will retest the $0.000155 high next time. Conversely, if bears continue to dominate the crypto space, this altcoin may drop to a low of $0.000101.
