The markets appear to be recovering from the recent pullback as the top cryptos are gaining back their lost momentum. Despite the ongoing bearish wave, the tokens appear to remain within bullish brackets. As a result, memecoins like PEPE & FLOKI have quickly triggered a huge upswing as soon as Bitcoin regains its position above $68,000.
With this, the PEPE price has regained strong bullish momentum and has triggered a rebound after hitting $0.00001313. However, the technicals continue to remain in bearish favour, but the recent flip in the price may turn the fractals, which may flash out a bullish signal. The daily RSI has triggered a bullish rebound, indicating the growing strength among the bulls.
The PEPE price is trading within a rising wedge and heading towards the apex of the consolidation. Although the RSI has triggered a rebound, the MACD does not display a rise in buying volume. Therefore, the price may maintain a consolidated ascending trend below $0.0000155 until the first few days of June, followed by a breakout towards new highs.
As the trade advances to the end of the first fortnight of June, the PEPE price may reach a new ATH at around $0.00001830. Secondly, the FLOKI price has also begun with an ascending trend, as it has soared by over 3% to 5% in the past few hours.
As suggested in the previous composition, the FLOKI price continues to remain stuck within a parabolic curve. After remaining bearish for a couple of days, the price displayed some strength after hitting the curve. Regardless of the ongoing price action, the RSI continues to form consecutive higher highs and lows. Therefore, the FLOKI price is expected to maintain an ascending trend along the curve and reach levels close to ATH.
However, before forming a new ATH, a final pullback to $0.00028 could be imminent, followed by a rebound to $0.00035.
