The post Shiba Inu & Pepe Fighting the Bearish Heat While WIF Price Leap Long—Will the Prices Emerge Out of the Odds? appeared first on Coinpedia Fintech News
The crypto market sentiments are flipping back to bullish after consolidating within a narrow range for a while. The memecoins remained inflated since the early trading days but some among them managed the bearish heat pretty strongly. Shiba Inu & Pepe price trying to recover from the day’s losses while dogwifhat price maintains a healthy upswing.
Shiba Inu (SHIB) Price Analysis
While the past weekend was pretty bullish for the majority of the tokens, the Shiba Inu price was struggling to reach the interim resistance at $0.0000188. However, before marking these levels, the bears intensified their action and slashed the levels that traded close to $0.000016 at the moment. The current price action is going against bullish interest and hence a significant pullback may follow in the coming hours.
The SHIB price maintains its trade within a bearish, descending parallel channel and within a range bound levels. The DMI is neutral but the ADX is maintaining a descending trend which suggests the consolidation may continue for a while. Besides, the RSI is maintaining a healthy upswing which suggests the price is under bullish influence and hence an upswing above the interim resistance could be imminent. However, the impact appears to be less as the bulls do not possess the required strength.
Pepe (PEPE) Price Analysis
The PEPE price experienced a huge bearish heat after remaining elevated for quite a long time in the past few days. Currently, the token is struggling to hold above the ascending resistance after gaining levels above the range. In the coming days, market participants may expect a decent drain in prices as the bulls remain passive at the moment.
Soon after rebounding from the interim lows, the bulls consumed more time than required before triggering a rebound and entering within the range. However, the MACD displays a drop in the selling volume and hence, a drop in the pressure may drag the levels slightly down. The market participants appear to have taken the profit from PEPE but the upcoming ETH ETF is believed to revive a strong ascending trend in a short while from now. This may raise the levels within the ascending triangle and after hitting the edge, it may rise towards new highs.