In the past week, several altcoins have broken out strongly from the prolonged accumulation trend of the market, reflecting a marked improvement in investor sentiment. The international context has also contributed positively, as trade tensions between the US and China show signs of easing, along with the Federal Reserve's decision to maintain interest rates, which has provided momentum for the cryptocurrency market's recovery. Notably, Bitcoin has set a new historical milestone by surpassing the $100,000 threshold, triggering a powerful wave of growth across altcoin groups. In the coming week, if BTC's upward momentum continues, Dogwifhat, Pepe, and BNB are likely to target new price peaks.
Bitcoin sets a new peak that could push altcoin prices up sharply
Bitcoin is nearing its historical peak reached in January, amidst a gradually stabilizing global economy and reducing pressure from US tariff policies. Thanks to the pull from Bitcoin, the altcoin market is also starting to show strong improvement. Bitcoin's market dominance has surged, currently around 63.3%, reflecting a return of confidence in the world's largest cryptocurrency.
In just the past few days, a number of altcoins have surged over 20%, with many meme coins recording explosive growth. These positive signals suggest that the cryptocurrency market may be preparing to enter a new bullish cycle as early as next week.
Technical Analysis of Dogwifhat (WIF)
Stable buying power has helped WIF maintain its position above the nearest support level, continuing to strengthen the recovery trend above $0.8. At the time of writing, this coin is trading around $0.8632, recording a strong increase of over 19% in the past 24 hours.
Hourly WIF/USDT Chart | Source: TradingView
The bears are likely to establish a barrier at the important resistance level of $0.91. However, if the bulls can maintain momentum and successfully break this level, WIF may extend its gains towards the next target area around $1.4.
On the contrary, if the price corrects below the 23.6% Fibonacci level but remains above the 20-day EMA at $0.735, this will signal positively that the uptrend is still in control. At that point, the $0.735 area may be re-established as a strong support zone, reinforcing market sentiment.
However, if selling pressure increases and pushes the price below $0.735 towards around $0.7, it is highly likely that WIF will enter a prolonged accumulation phase within the sideways trading range.
Technical Analysis of PEPE
The price of Pepe has bounced back from the 50-day moving average, indicating that buying power is starting to return. However, this meme coin is still struggling against the important resistance level at $0.000014. As of the time of writing, Pepe is trading around $0.00001313, recording an impressive increase of over 7.6% in the past 24 hours.
Hourly PEPE/USDT Chart | Source: TradingView
The 20-day moving average is showing signs of upward movement, while the RSI remains above neutral territory, indicating that the upward momentum is leaning towards the bulls. If the price can hold above the neckline of the pattern, located at $0.000014, it is likely that the recovery will continue towards the next target area at $0.000015.
On the contrary, if the bears can pull the price below the 50-day moving average, the short-term uptrend could be invalidated. At that point, Pepe will face correction pressure, with the nearest support levels at $0.0000115 and further down at $0.00001.
Technical Analysis of BNB
After failing to maintain upward momentum at the $680 level, BNB experienced a slight correction. Currently, this altcoin is trading around $655, recording an increase of over 3.3% in the past 24 hours – a sign that demand is still present.
Hourly BNB/USDT Chart | Source: TradingView
The $680 level remains a significant barrier that the bulls need to conquer. If buying pressure is strong enough to break this resistance level, BNB could very well aim for the $700 mark – a price level that has proven to be psychologically and technically significant on multiple occasions.
On the contrary, time is running out for the bears. If they want to reverse the trend, they need to successfully defend the $644 area and quickly pull the price down below the moving averages. This scenario, if it occurs, could cause BNB to retest deeper support at $610.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.