The cryptocurrencies with the largest increase: BONK, TIA, and WIF all recorded double-digit pumps, indicating a trend reversal.

The crypto assets market is experiencing a strong recovery, with Bitcoin (BTC) soaring above $109,000 today (3rd), driving meme coins like Bonk (BONK) and Dogwifhat (WIF) upward, while altcoins such as Celestia (TIA) have also achieved double-digit gains in the past 24 hours. With BONK, TIA, and WIF clearly leading in the market recovery, the technical outlook is bullish, and charts indicate a breakout from the range fluctuation.

BONK wedge breakout rebound is expected to rise further

FXStreet analyst Vishal Dixit stated that as of Thursday's publication, BONK had risen over 6%, continuing the previous day's 15% gain. As previously reported, this meme coin has continued its breakout bullish momentum following the downward wedge pattern.

BONK is approaching the level of 0.00001734 USD, which is equal to the 50% Fibonacci retracement level from the low of 0.00000886 USD on April 7 to the high of 0.00002581 USD on May 12. If it can break through this level and eventually close with a clear daily closing price, it is expected to continue the upward trend until the 78.6% Fibonacci retracement level of 0.00002218 USD.

The technical indicators show a shift in momentum as the Relative Strength Index ( RSI ) breaks the midpoint to 58, while the Moving Average Convergence Divergence ( MACD ) indicator and its signal line rise towards the zero line.

However, a reversal from the 50% Fibonacci level may test the high of June 29 at $0.00001520.

(Source: Trading View)

TIA Breaks Downward Channel

As of Thursday when this article was written, the TIA price has increased by over 2%, continuing the 16% increase from Wednesday. As previously reported, driven by the divergence of the RSI indicator, the TIA price has broken through the downward channel.

As TIA indicates a potential trend reversal, a breakout above the June 24 high of $1.68 could extend the rebound to the 50% Fibonacci level of $2.35, which traces back from the May 14 high of $3.40 to the June 22 low of $1.31.

The indicator shows that the RSI indicator is gradually moving around 45 and is approaching the midline after rebounding from the oversold area. At the same time, although the green histogram has increased, the MACD and its signal line are still deep in the negative value region.

If TIA fails to break through the level of 1.68 USD, the reversal may test the benchmark level of 1.31 USD.

(Source: Trading View)

WIF Aims to Break Through the Channel to Expand the Pump

As of Thursday's press release, the WIF price has increased by over 2%, up 16% from the previous day. WIF is approaching the key resistance trend line connecting the highs of May 12, May 29, and July 2.

If the daily closing price exceeds the resistance trend line around the Wednesday high of $0.934, it signifies a breakout from the descending channel formed by the parallel support trend line created by the lows on May 15 and June 1. A breakout rebound could target the highest trading price of June at $1.078.

Technical indicators show that the recovery momentum has slightly strengthened, with the RSI remaining above the midline of 56, indicating there is still room for an increase. At the same time, the MACD indicator shows that the MACD and signal line are slowly approaching the zero line.

On the contrary, a reversal within the channel may test the support level of $0.798, which was last successfully tested on June 13.

(Source: Trading View)