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Three cryptocurrencies—Solana (SOL), Pepe (PEPE), and Dogwifhat (WIF)—are catching traders’ eyes this week due to their recent price action and the formation of key support and resistance levels. Each asset is showing different levels of activity and volatility, offering clues about their potential future performance.
With Solana continuing its upward climb, PEPE hinting at a recovery, and Dogwifhat seeing renewed buying interest, investors are keeping a close watch on these coins for trading opportunities.
Solana’s Bullish Momentum
Solana (SOL) has surged to $151.33, marking a 3.28% increase over the last 24 hours. This rise follows a breakout from the $146 support zone, suggesting strong bullish momentum.
The price bounced back after a brief pullback at $146.57, a key support level that has attracted buyers. Additionally, the price broke through the psychological resistance at $150, turning it into a new support area. Hence, if Solana retraces, this level could act as a cushion for further upside.
However, bulls are now eyeing the next major resistance level at $152, where selling pressure may emerge. Consequently, this price point will be a critical hurdle to watch for a sustained upward movement. With Solana maintaining its bullish momentum, the market seems to favor further gains, but traders should be aware of possible price pullbacks.
Pepe’s Volatile Price Action
Pepe (PEPE) has experienced significant volatility, trading at $0.00001018 after a 3.23% increase in the past 24 hours. The price dipped to $0.0000095 earlier in the week but quickly recovered, signaling a potential reversal of the previous downtrend.
Moreover, the 24-hour trading volume has surged by 29.51%, indicating heightened interest in the token and increased participation from traders.
WIF Price Dips, BONK, PEPE, and SHIB Gain Attention
The support level at $0.0000095 proved vital in reversing the price decline, while $0.0000098 served as a consolidation zone before the recent surge. Pepe now faces resistance at $0.0000104, a level that has stopped previous rallies.
If the price breaks above this resistance, it could signal further upward movement. Traders should closely watch this level, as breaking through it could open the door for more gains.
Dogwifhat’s Renewed Interest
Dogwifhat (WIF) is trading at $2.80, with a modest 0.41% increase over the last 24 hours. After dipping below $2.70, the price quickly recovered, and a steady upward trend is now forming. This recovery suggests renewed buying interest, especially with the 24-hour trading volume increasing by 36.93%.
Key support levels are found at $2.65 and $2.70, where buyers stepped in during the price decline. Additionally, resistance at $2.85 remains a challenge for further gains.
If WIF breaks through this resistance, it could continue its upward trajectory. However, traders should remain cautious, as the current price is at a minor resistance level of $2.80, which could lead to a pullback if momentum weakens.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.