Cryptocurrencies have been unable to bounce back from Friday’s downturn, and the short-term trend will become clearer within the next 24 hours. The possibility of a rate cut by December has decreased considerably. Even the scenario of a 50 basis point cut seems unlikely, despite the Federal Reserve’s earlier 75 basis point prediction. The forthcoming May inflation data will be a crucial trigger. Investors are eyeing coins like BONK, PEPE, DOGE, and BOME to decide on potential buying opportunities during this dip.
Will BONK Coin Rebound?
The price of BONK Coin, which recently declined from a resistance level of $0.0000292, is now approaching its base at $0.0000218. BONK Coin’s movements closely mirror those of Solana (SOL). If BONK Coin fails to bounce back from this base support, it might drop further to $0.0000138. Given the risk of breaking the short-term uptrend, investors could benefit from setting stops at the initial support level to capitalize on any potential rebound.
Can PEPE Coin Maintain Its Support?
PEPE Coin continues to hold its $0.0000118 support, suggesting a possible test of its all-time high (ATH) level. If it bounces back with strength, driven by upcoming developments, the coin could reclaim the $0.0000147 mark, provided it closes above $0.0000130. This offers a more optimistic outlook compared to BONK Coin.
Investment Insights
– BONK Coin may fall further if it doesn’t bounce back from $0.0000218.
– PEPE Coin holds promise if it maintains $0.0000118 and surpasses $0.0000130.
– DOGE might drop to $0.0837 if it continues to lose support.
– BOME Coin is at risk of further decline, especially below $0.00816.
What Lies Ahead for DOGE?
DOGE bulls have failed to sustain the $0.153 level, leading to new potential lows at $0.124 and $0.116. Should the decline persist, the price could continue its downward trajectory to $0.0837, where its last significant rise began.
How Will BOME Coin React?
BOME Coin recently fell below its $0.0103 support and is likely to reach new lows. Despite spiking near $0.0095, bearish pressure remains strong following its Binance listing. Continued selling could drive the price down to the Binance all-time low (ATL) of $0.00816 and potentially to $0.00729.
Currently, Grayscale Bitcoin Trust (GBTC) has reported a net outflow of approximately $120 million. If both ETF-related panic and adverse inflation data persist, bears might continue to dominate the market.