DOGE, PEPE, & SHIB Prices to Enter Buying Zone Shortly
The cryptocurrency market is in the midst of a new bullish period, and top coins, primarily Bitcoin, have shown strong strength. As a result, the price of Ethereum also rose above $3,000, but failed to reach $4,000, although the price of BTC managed to hit a new high of nearly $93,500. Here are the altcoins to monitor closely ahead of the end of the week.
Dogecoin (DOGE)
this Dogecoin Price A strong uptrend has been reversed after breaking out of consolidation near $0.36. Meanwhile, the bears appear to have some room to expand as the bulls do not appear to be gaining the strength they need yet. A move above key resistance could invalidate the bearish trajectory; otherwise, it could provide a decent buying range.
The daily chart for DOGE shows that price just broke above the bullish pennant. RIS indicates increasing bullish momentum, but MACD indicates declining buying volume, which may further force the price to face a minor pullback. However, this could be a good buying opportunity around $0.35, as a breakout is expected to lead to a strong move towards the range above $0.6 before the end of 2024.
pepper (pepper)
PEPE price It broke out of the decisive symmetrical triangle and surged over 125% to hit an interim high near $0.000024. Since then, the price has experienced a downward consolidation, but the bulls have managed to curb the gains and prevent excessive price losses. Therefore, the coin is believed to be set to resume a strong uptrend once bulls regain dominance.
As you can see from the chart above, PEPE price rebounded out of several months of consolidation and surged above the uptrend line. With the price trading within a bullish pennant, this increases the likelihood of a bullish continuation. The price is expected to remain sideways for the next few days, including a minor pullback below $0.00002, which could further trigger a strong rally above $0.00003.
Shiba Inu(SHIB)
Traders have turned their attention away from the popular meme coin as trading volume remains a major limiting factor. A closer look shows that selling volume exceeded buying volume over the past week, triggering a 50% rise. This shows that bears are wary of the coin’s growth, which may not bode well for a healthy rally.
As shown in the figure above, SHIB price Still consolidated within a decisive symmetrical triangle. With the RSI showing higher highs but the OBV experiencing a pullback, the coin has both bullish and bearish opportunities. Therefore, if SHIB price faces a pullback, support at $0.00002 could serve as the basis to trigger a rebound; otherwise, a bullish breakout could lift the price closer to $0.00004.
