dogwifhat

Bonk

<p>The post <a href="https://coinpedia.org/price-analysis/memecoins-rebounding-dogwifhat-wif-and-bonk-bonk-prices-fighting-hard-to-counter-bearish-trend/">Memecoins Rebounding: dogwifhat (WIF) and Bonk (BONK) Prices Fighting Hard to Counter Bearish Trend</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>It was one of the lousy days for the crypto markets, as billions in market cap just whipped out in a few moments. While the markets still remain under bearish captivity, some of the tokens are fighting hard to eliminate bearish influence. Popular memecoins dogwifhat (WIF) &amp; Bonk (BONK) prices are rebounding as decent buying pressures continue to mount over the platform.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-dogwifhat-wif-price-analysis">dogwifhat (WIF) Price Analysis</h2> 
<p><a href="https://coinpedia.org/price-prediction/dogwifhat-wif-price-prediction/" target="_blank" rel="noreferrer noopener">dogwifhat price</a> was in the middle of a ‘v-shaped’ recovery from the bottoms below $1.5, aiming to reach above $2.2 before the end of the week. However, the <a href="https://coinpedia.org/price-analysis/mt-gox-terror-strikes-markets-bitcoin-faces-second-largest-long-liquidation-in-history-after-ftx-collapse-whats-next/" target="_blank" rel="noreferrer noopener">Mt. Gox terror struck the markets</a>, causing massive destruction of nearly $100 billion. As a result, the prices that faced rejection at $2.28 which falls within a crucial resistance zone, plunged back to test the pivotal support levels at $1.51. However, the prices have initiated a recovery while a rise above the bearish influence could be validated with a bullish close for the day.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcds4b6U_coUUr-2A-T-XnETfyDBmv7Jp9o58rKfs0p-J7Z1Up22QwVGTIO-ci3YRZ1vPejjQFuyvDjzpy8lOEeN__quUzMW9k3baQT2y_aFs_8skaoUPj6dCZtUqzA5KXcuRod-r-0PdfNXFRzKAglRvM?key=Zn7EnVo6zk0SQhOevXxU0Q" alt="">
</figure> 
<p>The WIF price has been trading below one of the important support levels between $2.15 and $2.28 since the last few days of June. Unfortunately, an attempt to pierce these levels was nullified by the bears and hence, another attempt to drag the levels below $1.5 has also been squashed by the bulls. The RSI has triggered a bullish reversal, while the OBV (on-balance volume) is displaying the possibility of a similar reversal that occurred in the last week of June.&nbsp;</p> 
<p>As market sentiments are bewildered, the dogwifhat price is expected to remain consolidated within this range until a huge buying volume enters the space.&nbsp;</p> 
<h3 class="wp-block-heading" id="h-bonk-bonk-price-analysis">Bonk (BONK) Price Analysis</h3> 
<p>The <a href="https://coinpedia.org/price-prediction/bonk-price-prediction/" target="_blank" rel="noreferrer noopener">Bonk price</a> has been trading within under a steep bearish trend ever since it failed to surpass the crucial resistance between $0.00003973 and $0.00004125. After failing to breach the resistance at the beginning of the month, the bears dominated the rally and slashed the levels by nearly 25% in the past couple of days. Now that the bulls are trying hard to validate a rebound, a rise above certain levels may squash the bearish influence for a while.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXd-dgHXNsQEfrojZLVoTJCQwoxR3S6VZnHvJGqhQmXddS8SywbxZkq0kycb0W3muAyy38aI9My1XSp9VoG5b5OINgLQGd2-VllpKVjw0TvK-m_QkFdiCALQ80gvw8OF6WqSetl1I-aq8BOb15sSl9kZ6gCs?key=Zn7EnVo6zk0SQhOevXxU0Q" alt="">
</figure> 
<p>As suggested in the above chart, the BONK prices are trading within a falling wedge. Despite a massive selling pressure hovering over the token, the bulls have managed to sustain the trade within the pattern, hence keeping the bullish hopes alive. However, the technicals do not support a bullish narrative as the OBV displayed a bearish reversal indicating the start of a bearish trend supported by MACD which is about to undergo a bearish cross-over.&nbsp;</p> 
<p>Therefore, the Bonk (BONK) price may not hold the buying pressure for a long time, as the technicals suggest another pullback to the support may only begin a fresh ascending trend.&nbsp;</p>

Memecoins Rebounding: dogwifhat (WIF) and Bonk (BONK) Prices Fighting Hard to Counter Bearish Trend

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