Memecoins Rally: What's Next for Dogecoin (DOGE), Pudgy Penguins (PENGU), and Dogwifhat (WIF)?
The post Memecoins Rally: What's Next for Dogecoin (DOGE), Pudgy Penguins (PENGU), and Dogwifhat (WIF)? appeared on BitcoinEthereumNews.com. Bitcoin is threatening to break through major resistance on Monday. At the same time the memecoins are starting to get up a head of steam. What’s next for memecoin frontrunners Dogecoin (DOGE), Pudgy Penguins (PENGU), and Dogwifhat (WIF)? Take some profits on $DOGE? Source: TradingView The 12-hour time frame for $DOGE shows how the undisputed memecoin leader has broken through the downtrend line, even though it had previously dropped out of the triangle. The bulls will now have the $0.24 horizontal resistance in their sights. That said, taking some profits here, or as the price ascends towards the bigger resistance level, could be a good idea. All the short-term momentum indicators have hit the top and so the next downward impulse could be about to start soon. Macro higher highs and higher lows for $DOGE Source: TradingView In the macro perspective of the weekly time frame all appears well for the $DOGE price so far. Higher highs and higher lows have been made, and it now remains to battle through this overhead horizontal resistance. At the bottom of the chart, the Stochastic RSI indicators look to be undecided as to whether it’s up or down, and the RSI right at the bottom of the chart shows that the indicator line is poised to either break the downtrend or to get rejected again. $PENGU hits resistance Source: TradingView Much like the $DOGE chart, the $PENGU chart is showing a big resistance level that is stopping further upside progress. Also in a similar vein, the shorter time frame Stochastic RSI indicators are starting to top out. For $PENGU it just might be that there is going to have to be some more sideways price action before that definitive move that breaks through the resistance plus the top of the bull flag. $PENGU…
The post Memecoins Rally: What's Next for Dogecoin (DOGE), Pudgy Penguins (PENGU), and Dogwifhat (WIF)? appeared on BitcoinEthereumNews.com.
Bitcoin is threatening to break through major resistance on Monday. At the same time the memecoins are starting to get up a head of steam. What’s next for memecoin frontrunners Dogecoin (DOGE), Pudgy Penguins (PENGU), and Dogwifhat (WIF)? Take some profits on $DOGE? Source: TradingView The 12-hour time frame for $DOGE shows how the undisputed memecoin leader has broken through the downtrend line, even though it had previously dropped out of the triangle. The bulls will now have the $0.24 horizontal resistance in their sights. That said, taking some profits here, or as the price ascends towards the bigger resistance level, could be a good idea. All the short-term momentum indicators have hit the top and so the next downward impulse could be about to start soon. Macro higher highs and higher lows for $DOGE Source: TradingView In the macro perspective of the weekly time frame all appears well for the $DOGE price so far. Higher highs and higher lows have been made, and it now remains to battle through this overhead horizontal resistance. At the bottom of the chart, the Stochastic RSI indicators look to be undecided as to whether it’s up or down, and the RSI right at the bottom of the chart shows that the indicator line is poised to either break the downtrend or to get rejected again. $PENGU hits resistance Source: TradingView Much like the $DOGE chart, the $PENGU chart is showing a big resistance level that is stopping further upside progress. Also in a similar vein, the shorter time frame Stochastic RSI indicators are starting to top out. For $PENGU it just might be that there is going to have to be some more sideways price action before that definitive move that breaks through the resistance plus the top of the bull flag. $PENGU…
What's Your Reaction?
