BONK, WIF, FLOKI Surge Watch: Meme Coins Heat Up as Bitcoin Hits ATH
Breaking out of an inverted head-and-shoulders pattern helps Bonk.
Reclaiming $1 psychological milestone, Dogwifhat attempts to exceed 200-day EMA.
Bullish momentum brings Floki's channel breakout rally closer to the 50% retracement.
As the weekly rebound hits key resistance levels, meme coins Bonk (BONK), Dogwifhat (WIF), and Floki (FLOKI) are poised to advance. Bitcoin's (BTC) resurgence pushes meme currencies to a new high on Thursday. With risk-on attitude rising and Bitcoin's dominance falling below 65%, meme currencies are likely to lead the next bull cycle.
Bullish close needed for Bonk's pattern breakout rally
Bonk rises over 2% on Friday, marking a 30-day high after Thursday's 12% leap. The meme currency breaks out of an inverted head and shoulders pattern with a neckline around $0.00002375, the daily chart close on May 10.
BONK breaks the neckline and the 50% Fibonacci retracement level at $0.00002350, which is between the November 20 high of $0.00006230 and the April 7 low of $0.00000886.
#Bonk might target the 61.8% Fibonacci level at $0.00002958 and the 78.6% level at $0.00004105 if it maintains the neckline breakthrough.
A daily closing above the 200-day EMA might push WIF beyond the 50% Fibonacci retracement level at $1.212, from the November 12 high at $4.830 to the April 9 low at $0.304. If meme coin regains $1.212, it might reach 61.8% at $1.679.
The MACD histogram rises from the zero line, indicating bullish momentum. RSI at 63 approaches overbought with opportunity for increase.
#WIF might challenge $0.860 at the 100-day EMA if it reverses from $200.
#FLOKI rises on channel break.
Channel breakout rally breaches 200-day EMA and reclaims $0.0001000 psychological threshold for Floki. Uptrend tries to reach 50% at $0.0001148, retraced from $0.0002900 on November 21 to $0.0000455 on April 7, indicating a possible trend reversal.
If FLOKI falls below the 200-day EMA, it might challenge $0.0000848,
