The crypto sector could be experiencing the calm before the storm. Bitcoin looks as though it is preparing for the next leg up, and a $BTC surge will probably float most boats. If lift off does take place, memecoins $PEPE, $WIF, and $BONK are in prime position to take advantage.
Next stage of a raging bull market could be upon us
It could be that hushed, quiet period before the storm breaks. Bitcoin rallied a huge amount from its bottom at $53,400, and now the $BTC price is becalmed during this latest pull-back. However, there are signs that the next stage of a raging bull market could soon be upon us.
If Bitcoin bursts out of its long-time sideways price range, some of the stronger fundamental altcoins are going to follow, and the memecoin niche is also likely to play a strong role in any upward surging price movement.
$PEPE back above bull market trend line
Source: TradingView
The $PEPE price is back above its bull market trend line. This is a really bullish move, and given that there are now some strong supports below, built on top of previous price structure, the base looks to be set for more upward price continuation.
Price targets for $PEPE going forward are $0.00001357, $0.00001518, and the previous all-time high at $0.00001723.
$WIF approaches breakout
Source: TradingView
The $WIF price looks to be ready for breakout. $2.27 has been flipped from resistance into support, and the $WIF price has stopped just short of the downward trend line. The fibonacci levels for the whole of $WIF’s price action since early April, fit beautifully onto the chart.
It certainly looks like $WIF will break through the trend line, perhaps with a retest of the $2.27 support before doing so. Upwards price targets would then be $2.77, $3.56, and then $4.13, before perhaps returning back to the all-time high at $4.85.
$BONK already up and running
Source: TradingView
Solana-based memecoin $BONK is already up and running. The price broke through the downward trend line on 9 July, retested on 12 July, and is now battling resistance at $0.00002890.
Once through this resistance, the last big resistance awaits at $0.000034. A smaller resistance can be found at $0.00003770, but then there is nothing until the all-time high at $0.000048. With price discovery thereafter, the sky's the limit for $BONK.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
