Dogecoin faces stiff resistance at $0.17 level after 12% weekly gain,cardano wallet with technical indicators showing mixed signals.
Shiba Inu's breakout attempt stalls near $0.00001200 as traders assess the sustainability of recent gains.
Pepe coin encounters selling pressure at critical trendline resistance despite strong weekly performance.
The meme coin sector demonstrated notable resilience last week, with Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) all posting significant recoveries from recent lows. However, Monday's trading session revealed emerging hesitancy among buyers as these assets approach technically significant price zones.
Dogecoin's Recovery Faces Key Test
After climbing 12% during the previous week, Dogecoin's upward momentum appears to be slowing near the $0.17 resistance level. This price point previously acted as both support and resistance throughout June, making it a crucial area for determining the next directional move.
The MACD indicator's recent bullish crossover suggests potential for continued upside, though the RSI's position below the neutral 50 level indicates some remaining caution among traders. A decisive break above $0.17 could open the path toward testing the psychological $0.20 barrier, while failure to overcome this resistance might see DOGE retest support near $0.14.
Shiba Inu's Technical Picture
Shiba Inu's 12% weekly advance brought the asset to test resistance near $0.00001200, a level that previously marked the June 5 closing price. The breakout above a descending trendline connecting recent highs suggests improving technical conditions, though Monday's slight pullback shows the need for confirmation.
Technical indicators present a cautiously optimistic outlook, with the MACD showing strengthening momentum and the RSI rebounding from oversold territory. The 50-day EMA near $0.00001252 represents the next significant hurdle should buyers maintain control above current resistance.
Pepe's Resistance Challenge
Pepe's impressive 17% weekly gain has brought the asset to test a descending trendline connecting the May and June highs. While the MACD's bullish crossover and improving RSI suggest waning bearish pressure, Monday's pullback indicates the need for stronger conviction to overcome this technical barrier.
A successful breakout could target the May 17 low near $0.00001196, while failure to maintain upward momentum might see PEPE revisit support around $0.00000900. The neutral RSI reading at 46 suggests the market remains undecided about the asset's near-term direction.
As these meme coins approach critical technical levels, traders are closely watching for confirmation of either continuation patterns or potential reversals. The coming sessions will likely provide important clues about whether the recent recovery represents a sustainable trend change or merely a temporary rebound within a broader consolidation phase.
