Memecoins has seen the light as major cryptocurrencies have shown a recovery on its charts. The meme can target a 12% increase in the next trading sessions with a consistent increase in purchasing power. ELON is valued at $0.000015 with overhead resistance at $0.0000017.
ELON's trading volume has decreased, which means that the price volatility of the coin will remain low. Shiba Inu has been trading within a descending trendline for the past few days, and however, due to broader market strength, the coin has broken out of the descending channel.
Dogelon / ELON / USDT . 4-hour chart
Dogelon has increased in price significantly in the past week. This coin offers significant ROI in the same timeframe. At press time, the coin has recorded a growth of 7.8% following its rapid decline in the past two days. The overhead resistance stands at $0.0000017 while the support lines lie at $0.0000013 and $0.000012 respectively.
Currently, the $0.0000009 level has acted as strong support for the coin. The technical outlook shows bullish price action due to ELON's recent bounce.
The Relative Strength Index also recorded a gain meaning buying power has returned to the market. ELON has seen massive buying power for most of the month, but the coin has also experienced a sell-off in the past few days.
MACD remains negative but is approaching a bullish crossover. The price of this coin is above the 20-SMA, signaling increased buying power.
Four-hour chart SHIB/USD
The price action of the Shiba Inu is quite volatile and the coin is priced at $0.000035. The immediate resistance for the Shib is at $0.000037 and the support is at $0.000033. The next support is at $0.000029.
Price volatility is decreasing as the Bollinger Bands narrow, suggesting that price volatility will remain low in the coming sessions.
The Relative Strength Index is negative as the number of buyers remains low. However, selling pressure still exists in the market. With the price rising, the RSI will move above the halfway line providing a stronger bullish force for the meme-coin.
Chaikin cash flow is also below the half line, but capital outflow has increased over the past 24 hours.