Bitcoin Eyes $100,000 as It Continues Its Bullish Uptrend, Inspired by the Notorious Internet Meme, Pepe Outshines Everyone

With its incredible surge to $91,000, Bitcoin has raised expectations that it will soon reach the $100,000 mark. Bitcoin is gaining significant traction thanks to a combination of institutional interest, increased retail participation and positive market sentiment.

Bitcoin price soared to a new all-time high on Monday morning, continuing its remarkable rally and approaching the significant $90,000 level. Several factors, including institutional interest, increased retail participation and positive market sentiment, are contributing to Bitcoin's impressive gains.

Traders and investors are keeping a close eye on key resistance and support levels as Bitcoin continues its impressive ascent in order to gauge the rally's remaining fuel. After surpassing key resistance levels of $75,000 and $85,000, Bitcoin is technically in a bullish uptrend. According to the daily chart, BTC has continued to rise, supported by significant volume spikes and a distinct breakout from the previous consolidation phase.

According to the chart pattern, Bitcoin has the potential for further growth, with the $100,000 mark serving as the next significant psychological barrier. In addition to being a technical goal, this mark serves as a psychological barrier that, if broken, might draw in new customers and raise prices even further.

Bitcoin's ability to continue on its upward trajectory in the near future will depend on support in the range of $88,000 to $90,000. A return to these levels would maintain the upward trend and serve as the foundation for Bitcoin's subsequent ascent. However, a decline below this support zone might indicate exhaustion and trigger a brief correction, with the $75,000 level serving as a more robust support floor.

Given the present momentum and sustained demand, particularly if the market is still favorable and buying pressure continues, Bitcoin might possibly reach $100,000 this week. But because the market can be volatile, it is also critical for investors to exercise caution and keep an eye out for possible profit-taking at these high levels.

PEPE outshines everyone

Pepe, a cryptocurrency inspired by the well-known internet meme, has seen a remarkable surge of 136 percent, leaving everyone else in the dust. This incredible price increase demonstrates the meme coin industry's tenacity and momentum, which has grabbed the attention of the general public despite some initially dismissing it as a fad.

When meme coins begin to exhibit steady and significant growth, as Pepe's recent price explosion demonstrates, they can no longer be dismissed as online jokes. PEPE's current chart shows a distinct and quick upward trend; the token has just broken through significant resistance levels and hit new highs.

A robust trading volume highlights this rally, demonstrating the sustained and substantial demand for PEPE. PEPE's price may encounter short-term resistance or even a pullback at these high levels given that the Relative Strength Index is currently in overbought territory.

But given how strongly it is rising, there may be a strong support base that could serve as a basis for future expansion. Rekindled interest has also been seen on the larger meme coin market as assets such as Dogecoin and Shiba Inu have rallied alongside PEPE.

The rise in popularity of meme tokens suggests that investors are prepared to make bets on these extremely erratic assets, perhaps as a result of the profits made by more well-known cryptocurrencies like Ethereum and Bitcoin. Meme coins are seeing a surge in large transactions, which is indicative of greater whale interest and high trading volumes and are fueling these price increases.

The meme coin market is emerging as an interesting subset of the larger cryptocurrency market thanks to PEPE's quick 136% rally. The recent price performance of these assets shows the possibility of significant returns, albeit with increased volatility, even though they still carry a high risk. Meme tokens are expected to hold their position on the market and continue to surprise the industry as long as they continue to fascinate cryptocurrency enthusiasts.

Ethereum gears up

It seems like Ethereum is preparing for another possible spike, especially if it adheres to the traditional Elliott Wave pattern. Elliott Wave Theory states that assets frequently move in predictable waves with three waves of correction following a primary trend (impulse) that lasts for five waves.

According to the most recent chart patterns and ETH's present course, it appears that the cryptocurrency may be in the middle of a correction, getting ready for the next significant impulsive wave. According to the given chart, ETH recently rose to about $3,200 before slightly declining. The second wave, which is usually a retracement phase that cools off prior gains before the asset builds momentum for the next big move, may be coming to an end with this correction.

If Ethereum follows this pattern, the next impulse wave or the third wave is anticipated to be the strongest, driving the price of ETH higher. The $3,500 psychological resistance and the $3,800 level, where Ethereum has previously encountered resistance, are important levels to keep an eye on as possible targets for this next surge.

Based on past price action, ETH may target the $4,200 level, another significant resistance