Cryptocurrencies Price Prediction: Dogecoin, PEPE & Quant – Asian Wrap 27 May
Dog-themed coins SHIB show bullish signs, DOGE faces resistance
Dogecoin (DOGE) and Shiba Inu (SHIB) are down roughly 1% at press time on Tuesday. While the dog-themed meme coins have consolidated for almost a week, Shiba Inu shows recovery signs in the derivatives market and technical charts as Dogecoin faces headwinds.
Pepe Price Forecast: PEPE price action shows a bearish divergence in play
Pepe (PEPE) price shows signs of bullish exhaustion on Tuesday after failing to breach a key resistance level at $0.000016 last week. The price action of the frog-themed meme coin flashes a bearish divergence on the momentum indicators, suggesting a possible trend reversal. Meanwhile, on-chain data shows an uptick in bearish sentiment, with short positions among traders climbing to the highest level in over a month, raising the odds of a potential downside move.
Top Gainers QNT JUP FORM: DeFi tokens rally as top altcoins stall
The broader cryptocurrency market witnessed a slowdown in the top altcoins like Ethereum (ETH), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE), with a 1% to 3% drop in the last 24 hours. Ignoring this, Quant (QNT) maintains a recovery trend, with the layer 2.5 network announcement for institutions and decentralized finance (DeFi). Jupiter (JUP) and Four (FORM) prolong the uptrend with technical signals suggesting breakout gains.
Author
FXStreet Team
FXStreet
