Today's popular altcoin price prediction: PUMP, FARTCOIN, and PENGU have experienced double-digit losses and are likely to fall further.

As Bitcoin (BTC) falls below $118,000, the altcoin market is stagnating, triggering an overall pullback in the Crypto Assets market. PumpFun (PUMP), Fartcoin (FARTCOIN), and Pudgy Penguins (PENGU) are leading the decline, with double-digit drops occurring within the past 24 hours. As the bullish momentum weakens, these cryptocurrencies face further downside risk.

PUMP continues the bearish trend, expected to further fall

As of Friday (July 25), the PUMP price has dropped by 5%, continuing the clear downtrend on the 4-hour price chart. On Thursday, the Launchpad token of this meme coin fell below the 0.003000 dollar mark, indicating increased selling pressure.

PUMP has reversed from a bearish trend at $0.006882, moving closer to the S1 pivot point at $0.002366. A decisive close below this level could extend the fall to $0.002084.

On the 4-hour chart, the Relative Strength Index (RSI) is at 25, indicating increased selling pressure leading to oversold conditions. Observing investors must remain cautious, as the oversold situation may signal a potential rebound.

To solidify the upward trend, the PUMP must exceed the level of 0.003000 USD, which could drive the upward trend to the R2 pivot level of 0.003542 USD.

(Source: Trading View)

The bullish failure of FARTCOIN may test the $1.00 barrier

FARTCOIN has appreciated over 1% today after falling 21% in the past two days. The meme coin failed to maintain an upward trend above the 78.6% Fibonacci level (1.56 USD), retreating from 2.74 USD on January 19 to 0.19 USD on March 10.

Fartcoin's price is gradually approaching the 50-day Exponential Moving Average (EMA), located at $1.24. If it can completely fall below the dynamic support level, it is expected to test the 61.8% Fibonacci level at $1.00.

The RSI reading on the daily chart is 50, indicating a neutral phase, while the drop from the overbought boundary to the midpoint signifies a significant decrease in buying pressure.

The Smooth Divergence Moving Average Convergence Divergence (MACD) crosses below the signal line, indicating a trend reversal. The red histogram surges, signaling increased selling pressure.

If the market recovers, meme coins may retest the resistance level of $1.56.

(Source: Trading View)

As the bullish momentum weakens, PENGU faces further downside risks

After a 12% fall on Thursday, forming a evening star pattern, at the time of writing this article on Friday, the price of Pengu has slightly decreased by 1%. The sudden reversal of Pengu is breaking below the 78.6% Fibonacci level of $0.03731, which has dropped from $0.070000 on December 17 to $0.00370 on April 9.

A decisive close below that level could lead to further losses for PENGU and may test the 61.8% Fibonacci level of 0.02277 USD.

Technical indicators show a sudden shift in momentum, with RSI dropping from the overbought area to 68 on the daily chart, indicating a weakening buying pressure. At the same time, the MACD indicator shows that bullish momentum is waning, as the strength of the green histogram decreases.

A rebound from $0.03731 may test the weekly high of $0.04660.

(Source: Trading View)