We have just concluded a crucial week in the cryptocurrency market. The data from the United States played a significant role in shaping the dynamics of the market, including Bitcoin. During this period, three altcoins managed to impress investors and enter the top 100 in terms of market value, as per the data from Coingecko.
WIF Graphic Analysis
WIF, a popular memecoin project in the Solana ecosystem, had a remarkable impact last week. It delighted investors with a 20.5% increase and achieved a total trading volume of $611,462,804. The breakout in the downtrend line suggests that WIF’s rise will continue in the future.
On the four-hour chart, the key support levels to monitor for WIF are $3.25, $3.07, and $2.84, respectively. Particularly, if the price closes below the $3.07 level, which coincides with the EMA 200 average, selling pressure could be exerted on WIF. The resistance levels to watch for WIF are $3.48, $3.92, and $4.35, respectively.
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PEPE Graphic Analysis
PEPE, another memecoin project that stood out in the cryptocurrency market, made a significant impact last week. It experienced an 11.4% increase and had a weekly trading volume of $868,406,062. PEPE recently surpassed the EMA 21 average, marking an important milestone.
On the two-hour PEPE chart, the crucial support levels to keep an eye on are $0.00000838, $0.00000804, and $0.00000778, respectively. A close below the $0.00000838 level, which intersects with the EMA 21 average, could trigger selling pressure on PEPE. The essential resistance levels to monitor for PEPE are $0.00000897, $0.00000916, and $0.00000937, respectively.
W Graphic Analysis
W, the native token of the Wormhole protocol in the Solana ecosystem, faced significant selling pressure after an airdrop event. However, it gained momentum with the formation of an ascending channel on the two-hour chart and achieved an 11.4% rise over the past week. Unfortunately, W encountered selling pressure again after reaching the resistance line of the formation.
On the two-hour chart, the critical support levels to observe for W are $0.673, $0.633, and $0.577, respectively. If the price closes below the $0.673 level, which has been a significant support in recent formations, selling pressure could impact W’s price. The important resistance levels to monitor for W are $0.698, $0.743, and $0.776, respectively.
Disclaimer:
The information provided in this article should not be considered investment advice. It is crucial for investors to understand that cryptocurrencies are highly volatile and carry inherent risks. Investors should conduct their own research before making any investment decisions.
