Meme Conins this week received a blow, as the bearings of the market conditions dragged out even Bitcoin to $ 95,700. Since altcoins expand their descending trend, the losses of investors continued to grow.
Beincrypto analyzed three memes, which once stood out as the best performers, but are currently undergoing significant corrections.
Dogecoin (DOGE)
This week, Dogecoin, the largest meme, experienced a sharp decrease by 25%, reaching a minimum of two and a half months of $ 0.248. The price fell due to the critical support of 0.268 US dollars, the alarm increased the bear. With the weakening of the mood of investors, Doge is faced with the risk of an extended drawback, if only the buyers intervene.
The next key support for Dogecoin is 0.220 US dollars, which can determine its short -term trajectory. If the price reaches this support, investors can start selling their assets to minimize losses.
Increased liquidation pressure can push DOGE below, which further expands its descending trend and strengthening the problems in the market.
The reverse remains possible if Dogecoin manages to return the support level of 0.268 US dollars. Switching of this resistance in support can contribute to recovery, which will allow you to strive for $ 0.311 and older. This deprives the cancellation of a bear prospect and restore the confidence of investors.
SPX6900 (SPX)
SPX suffered a significant correction, decreasing by 50% in the last week to trade at 0.642 dollars at the time of writing. A steep drop put a memony under strong pressure on the sale, which causes concerns among investors. Despite the decline, SPX continues to stay higher than the key support level.
Currently, supporting support of $ 0.568, SPX remains vulnerable to consolidation in a narrow range. Historically, the coin of memes with all her might tried to break more than 0.759 dollars in the United States, delaying any significant recovery. If the price action remains depressed, the SPX can continue to fluctuate between these levels, which makes a strong rebound less likely in the short term.
Bull change can occur if the SPX turns the resistance in the amount of $ 0.759 in support. This shift signals the update of the purchase percentage, which will allow the coin to push to 0.91 dollars. The breakthrough above this level will deprive the deprivation of a moment.
Fartcoin (Fartcoin)
This week, Fartcoin occurred by 58%, bargaining at 0.468 dollars at the time of writing. This sharp drop positioned it as one of the worst coins of memes. The decline intensified as Fartcoin fell below the critical support level of $ 0.600, which increased the pressure in the sale and weakening the mood of investors in the market.
The next key level for Fartcoin is $ 0.377, where the rebound can help stabilize the price. Nevertheless, a weak impulse increases the concern about continuing consolidation below 0.600 US dollars. Without a significant pressure of the purchase, the memo coin can try to restore the lost position, which led to a long stagnation in its price movement.
Potential recovery remains possible if Fartcoin restores support level in the amount of $ 0.600. To turn this barrier in support can make a path to increase the pushing to 0.693 dollars. The breakthrough, over this resistance, will lose the prospects of the bear, potentially restoring the confidence of investors and feeding the wider restoration of the price of a meme coin.
