DOGE, PEPE, SHIB Altcoins Expected to Offer Good Buying Opportunity Soon

The crypto markets are in the middle of a fresh bullish spell as the top tokens have been manifesting acute strength, majorly Bitcoin.

Crypto markets are observing a fresh bullish spell where the top tokens have been displaying remarkable strength, especially Bitcoin. While Ethereum’s price rose above $3000, it failed to reach $4000 despite BTC price marking new highs close to $93,500. Here are the altcoins to watch until the end of the week.

Dogecoin (DOGE) price has revived a strong ascending trend after rising above the consolidation around $0.36. Meanwhile, the bears have some room to expand as the bulls don’t seem to have gained the required strength. A rise beyond the pivotal resistance may invalidate the bearish trajectory, failing which it may offer a good buying range.

DOGE daily chart suggests the price has just broken out from the bullish pennant. The RSI indicates a rise in bullish momentum but the MACD showcases a drop in the buying volume, which may further push the price to face a slight pullback. However, this could be a good buying opportunity around $0.35 as a breakout may initiate a strong uptrend to the levels above $0.6, which may be attained before the end of 2024.

Pepe (PEPE) price broke from the pivotal symmetrical triangle and surged by more than 125% to mark the interim highs at around $0.000024. Since then, the price has undergone a descending consolidation but the bulls have managed to hold back the rally, preventing excessive price drain. Therefore, once the bulls regain their dominance, the token is expected to showcase a strong ascending trend.

As depicted in the above chart, the PEPE price rally broke out of the multi-month consolidation and surged above the ascending trend line. This has created the possibility of a bullish continuation as the price is trading within a bullish pennant. The price is expected to remain consolidated for another couple of days, which includes a slight pullback below $0.00002, which may further trigger a strong rebound beyond $0.00003.

Shiba Inu (SHIB) traders had shifted their focus away from this popular memecoin as the volume has remained a major concern. A close observation suggests the selling volume in the past week has been more than that of the buying volume that triggered a 50% rise. This indicates the bears are keeping a close watch on the growth of the token, which may not be a good sign for a healthy rally.

As suggested in the above chart, the SHIB price remains consolidated within a pivotal symmetrical triangle. The token possesses both bullish and bearish opportunities as the RSI is displaying a higher high but the OBV undergoes a pullback. Hence, if the SHIB price faces a pullback, the support at $0.00002 may offer a base to trigger a rebound, failing which a bullish breakout would elevate the levels close to $0.00004.

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