- Bearish momentum may ship WIF to $2.59 whereas BONK goal might be $0.000019.
- The BB on the DOGE chart indicated low volatility, with the AO indicating a drop to $0.12.
- FLOKI's momentum was bearish and the 0.786 Fib stage indicated a possible retracement to $0.0015.
Meme cash proceed to expertise main declines regardless of hypothesis that a few of them could also be oversold and might even see a rebound. These affected embrace dogwifhat (WIF), Bonk (BONK), Dogecoin (DOGE) and Floki (FLOKI).
At press time, WIF modified arms for $3.03. That was a 5.34% drop within the final 24 hours. BONK value decreased by 7.68% to commerce at $0.000023. DOGE misplaced 4.52% of its worth, whereas FLOKI fell by the identical share to commerce at $0.00017.
Right here's what led to the declines and the way cryptocurrencies might fare within the coming week.
WIF value evaluation
On Could 9, the bulls camped at $2.78 on the 4-hour WIF/USD chart, forming help on the stage. This ensured that the value of the meme coin jumped to $3.26. On the similar time, the token needed to break the resistance of $3.00.
However at press time, the value was again on the similar resistance stage. In the meantime, the Relative Energy Index (RSI) additionally fell, indicating that momentum has turned bearish.
WIF/USD 4-hour chart (supply: TradingView)
If this momentum continues to say no, the value of WIF may additionally comply with and a drop to $2.59 might be potential. As well as, the Supertrend despatched a promote sign at $3.24, suggesting that the WIF value may battle to interrupt this barrier in a bullish situation.
BONK value evaluation
It was an identical scenario for BONK based on the Shifting Common Convergence Divergence (MACD). On the time of writing, the MACD was adverse, indicating bearish momentum. As well as, the 12 EMA (blue) broke under the 26 EMA (orange), indicating that sellers had been dominant
With this development, BONK's subsequent goal might be under the $0.000020 help and the value may drop to $0.000019.
BONK/USD 4-Hour Chart (Supply: TradingView)
DOGE value evaluation
Within the 4-hour timeframe, Dogecoin confirmed low volatility. Bollinger Bands (BB) confirmed this. Low volatility implies that value fluctuations could be reasonable and there is probably not important pumping.
From the chart under, the value of DOGE was $0.14. Nevertheless, except the bands widen, the coin might not transfer above $0.15 within the coming days.
Moreover, the Superior Oscillator (AO) turned adverse, indicating growing bearish momentum. If this continues, DOGE might drop as little as $0.12 earlier than one other bounce.
DOGE/USD 4-Hour Chart (Supply: TradingView)
FLOKI value evaluation
Based on the 4-hour chart, the bulls weren’t sturdy sufficient to carry the value of FLOKI increased. So the rise to $0.00018 was canceled as the value modified arms at $0.00017. The RSI additionally dropped under the 50.00 midpoint, confirming a decline in momentum.
Moreover, the Fibonacci retracement indicator confirmed that FLOKI's value might proceed to say no. From our evaluation, the following goal for meme coin might be $0.00015 the place the 0.786 Fib stage is situated.
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