Meme coins are capitalizing on the bullishness observed in the past week with some tokens noting more than 100% gains. Thus, the coming week will likely witness further gains provided the upcoming US CPI data is in favor of the crypto market.
BeInCrypto has analysed three meme coins that the investors should watch going forward.
Osaka Protocol (OSAK)
OSAK has seen a significant 44% rise this past week, trading at $0.000000208. However, the meme coin is currently facing resistance at $0.000000210. This price barrier has held steady for the past month, preventing further upward movement.
The exponential moving average (EMA) is currently forming a Golden Cross, signaling a bullish trend. This technical indicator suggests that OSAK could soon push past its resistance at $0.000000210, with a potential rise to $0.000000234. If this occurs, OSAK could mark a multi-week high, attracting more attention from investors.
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If market conditions turn unfavorable for crypto tokens, OSAK could face continued consolidation. In this case, the price may fall back to $0.000000164, invalidating the bullish outlook.
Troll (TROLL)
TROLL has surged 132% in the past week, currently trading at $0.195. The meme coin set a new all-time high (ATH) of $0.250 during this rise, showing strong bullish momentum. With continued market interest, TROLL may aim to build on this growth and reach even higher price levels.
The Parabolic SAR indicator, located below the candlesticks, is signaling an uptrend, suggesting that TROLL’s positive momentum could continue. This bullish signal could push TROLL past its ATH of $0.250, paving the way for a new ATH near $0.300.
However, if investor sentiment turns bearish, TROLL may face selling pressure. A drop below the $0.174 support level could lead to a further decline, potentially falling to $0.104. Such a move would invalidate the current bullish outlook, signaling a potential market correction.
BUILDon (B)
BUILDon has experienced a remarkable 33% rise this past week, with a 13% increase in the last 24 hours. The meme coin recently set a new all-time high (ATH) at $0.675, reflecting strong market momentum. This breakout signals the potential for further price gains if the bullish trend continues.
Currently, BUILDon is trading above the $0.646 support level. A bounce-off of this support could help the meme coin push past its ATH, reaching $0.700. This level presents an opportunity for further growth if the broader market conditions remain favorable and investor confidence remains strong.
However, if BUILDon fails to hold above $0.646, it could experience downward pressure. A fall below this support would bring the price closer to $0.572, erasing much of the recent gains. This scenario would invalidate the bullish outlook, potentially signaling a market correction.
Disclaimer
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