The cryptocurrency market continues to experience growth, led by Ethereum and showcasing positive signals from memecoins.
Ethereum Growth and Memecoins
Ethereum (ETH) has surged 19% in the past week and is trading above $3,700. This optimism has spread to memecoins, with Dogwifhat (WIF) showing signs of further upside, gaining 13% over the past 7 days and extending its monthly rally to 79%.
WIF and PENGU Comparison
A side-by-side look at PENGU and WIF daily charts highlights a striking similarity in their trajectories. PENGU recently executed a textbook falling wedge breakout, a bullish reversal pattern, and after reclaiming both its 50-day and 100-day moving averages, it rallied 149%.
Outlook for WIF
If this fractal continues to unfold, a breakout above the red resistance zone could spark WIF's next rally, potentially targeting $2.40, representing a 100% move from current levels. However, confirmation is crucial, as until WIF decisively breaks above the red box resistance, further consolidation or sideways action may occur.
Thus, the cryptocurrency market demonstrates positive trends, though investors should monitor WIF for confirmation of a breakout before making decisions.
