Memecoins PENGU, BONK, and POPCAT are all setting up for a potential leg higher, having recently pulled back to key support zones and now showing early signs of momentum shift.
Pudgy Penguins (PENGU) price recently bounced from a confluence support zone, formed by the rising trendline and a horizontal support range around $0.0088–$0.0090.
Momentum indicators are showing early signs of a potential reversal, with a bullish divergence on the RSI and flattening MACD histogram with the signal lines nearing a potential bullish crossover.
However, PENGU price remains below the 20-day EMA and 50-day SMA, and the broader downtrend from May is still intact as the price hasn’t yet made a higher high above the last significant swing high. A confirmed break and close above the $0.012–$0.013 resistance zone, marked by the recent swing high and 50-day SMA, would be needed to shift the bias fully bullish.
Bonk (BONK) price has formed a falling wedge pattern on the daily chart. The memecoin‘s price has recently bounced off the lower trendline of the wedge, establishing support in the $0.00001370–$0.00001410 zone. The upper trendline resistance currently intersects around the $0.00001650–$0.00001680 range, aligning with the 20-day EMA — creating a zone of confluence that strengthens its significance as a potential breakout level.
Technically, there’s a slight bullish divergence on the RSI — while BONK price made a lower low during the most recent pullback, the RSI formed a higher low, suggesting weakening bearish momentum. Additionally, the MACD histogram is contracting toward the zero line, supporting the case for a possible upside move.
The next major resistance lies around $0.00001860, aligning with the 50-day SMA and a previous support-turned-resistance level. The next level to watch is $0.00002100, a key horizontal resistance from late May as well as a swing high in late April. The final target, near $0.00002580, represents the full measured move of the wedge and coincides with a major swing high from the beginning of the wedge’s upper trendline.
Similarly, POPCAT (POPCAT) price has formed a falling wedge pattern and has recently bounced from the lower boundary of the wedge, establishing support near the $0.29–$0.31 zone. The upper wedge resistance currently projects toward the $0.37–$0.38 range, aligning closely with the 20-day EMA, which marks a potential breakout level.
Technically, there’s bullish divergence forming on the RSI. The MACD histogram is also gradually contracting toward the zero line, hinting at a possible bullish crossover in the near term.
Looking ahead, the immediate major target is around $0.42, which aligns with the 50-day SMA and the previous swing high. A further breakout above this zone could see price targeting the $0.50 level, followed by a full measured move projection toward the $0.60–$0.65 area — aligning with the first swing high within the wedge.
