The cryptocurrency market has been showing signs of positive momentum in recent days, with several altcoins breaking away from market consolidation and delivering strong gains. The easing tensions in the US-China trade war and the Federal Reserve’s decision to keep interest rates unchanged have contributed to the market rebound. Bitcoin’s surge past the key $100K milestone has also fueled renewed momentum in the altcoin market. In the upcoming week, Dogwifhat, Pepe, and BNB are poised for potential breakouts if Bitcoin’s price maintains its current momentum.
Bitcoin is inching closer to its all-time high from January, and as the economy stabilizes and trade tensions ease, altcoins are beginning to benefit from Bitcoin’s rise. Bitcoin’s market dominance has also increased, now standing at around 63.3%. Many altcoins have seen gains of over 20% in the past few days, with some meme coins performing even better. This suggests that we could be on the cusp of a new bull run as early as next week.
dogwifhat (WIF) has managed to hold above immediate support levels, with the price currently trading at $0.8632, up over 19% in the last 24 hours. If buyers can break through the $0.91 level, WIF price could aim for a surge towards $1.4. On the other hand, if the price drops below the 23.6% Fib level and holds steady at the EMA20 trend line at $0.735, it could establish a strong support level and indicate the end of the downtrend.
Pepe’s price has bounced off its 50-day moving average but is struggling to surpass $0.000014. Currently trading at $0.00001313, up over 7.6% in a day, Pepe could climb towards $0.000015 if it stays above the neckline of the pattern at $0.000014. However, a push below the 50-day moving average could see Pepe fall to $0.0000115 or even $0.00001.
BNB experienced a bearish decline after failing to meet buying demand around $680. The price is currently at $655, up over 3.3% in the last 24 hours. If buyers can push the price above $680, we may see a surge towards the $700 resistance zone. Sellers will need to hold the line at $644 and push the price below the moving averages to stop the upward trend, potentially leading to a drop to $610.
Overall, the altcoin market is showing signs of bullish momentum, with Dogwifhat, Pepe, and BNB poised for potential breakouts in the coming week. Traders and investors should keep a close eye on these altcoins as they may present lucrative trading opportunities in the near future.