In September, the cryptocurrency market experienced a notable bullish trend, with Bitcoin rising by nearly 10% and altcoins seeing double-digit increases. One notable shift in momentum towards memecoins was observed since September 23, with some memecoins recording close to a 20% surge in just 24 hours. This surge has sparked interest in analyzing the price movements of specific memecoins that could continue their momentum into October.
One of the memecoins under scrutiny is POPCAT, which has shown rapid price growth since August 5. Initially confined within a symmetrical triangle, POPCAT broke out of this pattern on September 12, reaching a new all-time high of $1.09 by September 26. Despite the substantial increase, indicators like the RSI and MACD do not indicate weakness, hinting at the potential for further upward movement with a projected target of $1.45 if the wave count analysis holds true.
Similarly, BONK has been trading within a symmetrical triangle pattern since March and recently bounced off the support trend line in September, signaling an upward trajectory. Although technical indicators point toward a bullish trend, BONK is still consolidating within a key resistance area, suggesting the need to break above the $0.000023 level to confirm a sustained bullish rally. The positive indicator readings enhance the likelihood of this breakout scenario.
On the other hand, BRETT has been caught in a descending parallel channel since reaching its all-time high in June, but a breakout from this channel on September 26 marked a potential trend reversal. Bullish divergences prior to the breakout indicate the possibility of BRETT targeting its all-time high of $0.165, signifying a 65% increase from its current price. The positive readings and breakout from the descending channel contribute to the optimistic outlook for BRETT's price movement.
SUNDOG, launched in mid-August, exhibited a parabolic price increase before retracing and forming an ascending triangle pattern with a resistance level at $0.36. An upward breakout from this pattern could propel SUNDOG to $0.52, representing a 51% increase. Conversely, a breakdown from the support trend line and key horizontal support at $0.30 may invalidate this bullish scenario. Finally, BOME, which had experienced a downtrend since April, recently showed signs of a potential turnaround with a double bottom pattern and a breakout from descending resistance. If this trend continues, BOME could target the $0.015 resistance level, implying an 85% increase from its current price.
In conclusion, analysis of POPCAT, BONK, BRETT, SUNDOG, and BOME suggests promising potential for growth in October, building on the bullish momentum observed in September. These memecoins exhibit various technical patterns and indicators that indicate the likelihood of sustained upward movement, with some possibly reaching new all-time highs during their ascent.