Crypto prices soared on Tuesday as Bitcoin jumped above the key resistance at $106,000 for the first time since last week. This rally also happened after the US stock market closed in the green and the US dollar index (DXY) declined.
This article provides predictions for some of the top cryptocurrencies today, including Dogwifhat (WIF), SPX6900 (SPX), Pepe (PEPE), and Bonk (BONK).
Dogwifhat price forecast
The daily chart shows that the Dogwifhat price bottomed at $0.3185 in April as most Solana meme coins plunged. It has now bounced back and is about to cross the important resistance point at $1.
WIF price has formed a cup-and-handle pattern, whose upper side is at $1.3473 and has a depth of about 76%. The handle section, which is characterized by a pullback or some consolidation, is now being formed. The cup’s upper side coincided with the 23.6% Fibonacci Retracement level.
WIF price has moved above the 50-day and 100-day Exponential Moving Averages (EMA), while top oscillators like the Relative Strength Index (RSI) and the money flow index (MFI) are pointing upwards.
Therefore, the most likely scenario is where the WIF price bounces back. Measuring 76% from the cup’s upper side gives the next WIF price forecast at $2.38, a few points below the 50% retracement level.
SPX6900 price prediction
The SPX6900 token price has jumped in the past few months, making it one of the best-performing cryptocurrencies. SPX has jumped by 360%, moving from a low of $0.2522 in March to $1.1587.
It has formed an ascending channel that is made up of a series of higher highs and high lows. WIF is now in the middle of this channel and is pointing upwards.
The token has remained above the 50-period and 100-period moving averages, a sign that bulls are in control. Oscillators have all pointed upwards, and the pair is about to cross the 61.8% retracement level.
Therefore, the SPX price will likely continue rising, with the next point to watch being the psychological point at $1.5, up by 28% above the current level. A drop below the support at $1 will invalidate the bullish outlook.
Pepe coin price forecast
The daily chart shows that Pepe price bottomed at $0.000005298 in March this year as most altcoins imploded. It then staged a strong surge, reaching a high of $0.00001628 on May 24, its highest point since January 20.
Most recently, the coin has formed a golden cross pattern as the 50-day and 200-day Exponential Moving Averages crossed each other. This pattern is one of the most bullish signs in technical analysis.
Pepe is approaching the 38.2% Fibonacci Retracement level, while the RSI is pointing upwards. The golden cross pattern points to more gains, potentially to the next key resistance level at $0.00001628, up by 30% above the current level. A drop below the 200-day moving average at $0.000011 will invalidate the bullish outlook.
Read more: Pepe coin price prediction: 3 reasons this meme coin will surge
Bonk price prediction
The chart below shows that the Bonk price formed a small double-bottom pattern at $0.0000088 between March and April. A double bottom is one of the most bullish patterns in technical analysis. It then bounced back sharply and reached a high of $0.0000257 last month.
Bonk has now lost momentum and moved below the 50-day and 100-day EMA. The ongoing rebound also seems like a dead cat bounce (DCB). Indeed, the Average Directional Index, which measures the strength of a trend, has pointed downwards.
Therefore, the most likely Bonk price prediction is bearish, with the initial target level being at $0.000015.
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