Memecoins PENGU, BONK, and POPCAT are all establishing for a possible leg greater, having not too long ago pulled again to key assist zones and now exhibiting early indicators of momentum shift.
Pudgy Penguins (PENGU) worth not too long ago bounced from a confluence assist zone, fashioned by the rising trendline and a horizontal assist vary round $0.0088–$0.0090.
Momentum indicators are exhibiting early indicators of a possible reversal, with a bullish divergence on the RSI and flattening MACD histogram with the sign strains nearing a possible bullish crossover.
Nonetheless, PENGU worth stays beneath the 20-day EMA and 50-day SMA, and the broader downtrend from Could remains to be intact as the worth hasn’t but made the next excessive above the final vital swing excessive. A confirmed break and shut above the $0.012–$0.013 resistance zone, marked by the current swing excessive and 50-day SMA, could be wanted to shift the bias totally bullish.
Bonk (BONK) worth has fashioned a falling wedge sample on the every day chart. The memecoin‘s worth has not too long ago bounced off the decrease trendline of the wedge, establishing assist within the $0.00001370–$0.00001410 zone. The higher trendline resistance presently intersects across the $0.00001650–$0.00001680 vary, aligning with the 20-day EMA — making a zone of confluence that strengthens its significance as a possible breakout degree.
Technically, there’s a slight bullish divergence on the RSI — whereas BONK worth made a decrease low throughout the latest pullback, the RSI fashioned the next low, suggesting weakening bearish momentum. Moreover, the MACD histogram is contracting towards the zero line, supporting the case for a doable upside transfer.
The subsequent main resistance lies round $0.00001860, aligning with the 50-day SMA and a earlier support-turned-resistance degree. The subsequent degree to look at is $0.00002100, a key horizontal resistance from late Could in addition to a swing excessive in late April. The ultimate goal, close to $0.00002580, represents the total measured transfer of the wedge and coincides with a significant swing excessive from the start of the wedge’s higher trendline.
Equally, POPCAT (POPCAT) worth has fashioned a falling wedge sample and has not too long ago bounced from the decrease boundary of the wedge, establishing assist close to the $0.29–$0.31 zone. The higher wedge resistance presently initiatives towards the $0.37–$0.38 vary, aligning carefully with the 20-day EMA, which marks a possible breakout degree.
Technically, there’s bullish divergence forming on the RSI. The MACD histogram can be steadily contracting towards the zero line, hinting at a doable bullish crossover within the close to time period.
Trying forward, the speedy main goal is round $0.42, which aligns with the 50-day SMA and the earlier swing excessive. An extra breakout above this zone may see worth focusing on the $0.50 degree, adopted by a full measured transfer projection towards the $0.60–$0.65 space — aligning with the primary swing excessive inside the wedge.
