Meme Coins Price Prediction: DOGE, WIF, SPX aiming to extend recovery as risk-on sentiment prevails :
Dogecoin edges higher, aiming to extend its weekly recovery amid easing bearish momentum.
Dogwifhat pulls lower, breathing after two consecutive bullish days, aiming to reclaim a key psychological level.
SPX6900 bounces off with a V-shaped reversal from a crucial support level, potentially targeting a new all-time high.
The broader market recovery is witnessing a resurgence of risk-on sentiment following the Iran-Israel ceasefire. Amid easing bearish momentum, meme coins such as Dogecoin (DOGE), Dogwifhat (WIF) and SPX6900 (SPX) aim to extend the recovery seen earlier this week.
Dogecoin targets $0.20 as bearish pressure wanes
Dogecoin edges higher at press time on Wednesday, adding marginal gains to the 8% jump from Monday. Price action records a morning star pattern, known for igniting bullish reversals, completed on Monday with a bearish and Doji candle on the weekend.
The immediate resistance for DOGE is at $0.1710, marked by the June 5 closing price. A clean push in daily close above this level could extend the Dogecoin recovery to $0.20 round figure, close to the monthly high.
The Moving Average Convergence/Divergence (MACD) indicator approaches a buy signal as the MACD and signal lines inch closer towards a crossover. Investors could consider the rise of green histogram bars above the zero line as a sign of trend reversal.
The Relative Strength Index (RSI) reverses from the oversold zone to 40, signaling a sudden decline in bearish strength.
However, if DOGE fails to trigger a trend reversal, it could retest the $0.1428 support level, close to the monthly low.
MACD indicator flashes a buy signal for WIF
Dogwifhat softens by 2.40% at press time as a breather phase kicks in following the 26% surge earlier this week. Similar to Dogecoin, WIF completes a morning star with a 20% rise on Monday.
