- Pepe (PEPE) and dogwifthat (WIF) broke out of their consolidation regions.
- Cardano (ADA) failed to breakout while being rejected at major resistance level.
- PEPE and WIF are up by more than 30% in the past seven days.
Pepe (PEPE), dogwifhat (WIF), and Cardano (ADA) have broken out of their consolidation patterns, signaling potential volatility. This surge comes as Bitcoin (BTC), falls below the $65,000 price level, dragging down the broader crypto market.
Cardano (ADA): Breaking Out or Fading Away?
The chart provided by TradingView below shows the ADA/USDT pair trying to push higher and break out of the consolidation region between $0.3 and $0.4 price levels. Last week, the altcoin reached a high of $0.413 but failed to claim the $0.45 price level.
According to CoinMarketCap data, ADA is priced at $0.3824 at the time of writing, down 3.42% in the past 24 hours but up 8.32% in the past week.
Read also: Cardano’s ADA Eyes $1: Bullish Analyst Predicts Surge
The Relative Strength Index (RSI) of the PEPE price action is valued at 56.91 which means that the bulls are overall in charge but the price might continue to go down as per the gradient of the line.
PEPE and WIF Consolidation Breakout
WIF has also been in a consolidation region between $1.2 and $2.2. However, the meme coin broke through the region and claimed the $2.3 price level. The RSI shows a value above 70, which means that WIF is overbought and a correction is possible in the near term.
Read also: Arthur Hayes Moves $252K in PEPE—Is a Meme Coin Surge Coming?
WIF is trading at $2.35, up 3.92% in the past 24 hours and 37.74% in the last seven days. The cryptocurrency has surged 54.48% in the last 30 days.
As seen from the chart below, PEPE also broke out of its consolidation pattern that ranged between $0.000006 and $0.000008. The cryptocurrency is up 32.50% in the past week and is trading at $0.0000107, up 3.81% in the past 24 hours.
The RSI for PEPE reads a value above 67 which means that the buyers are overall in control of the PEPE price action but the gradient of the line suggests that a slight correction might be possible.
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Source: https://coinedition.com/pepe-wif-and-ada-break-out-despite-bitcoins-dip-below-65k/