Altcoin Price Analysis: ETH falls below $3700, FLOKI, PUMP, and JASMY see double-digit declines.

Ethereum (ETH) fell below $3,700, with altcoins like Floki (FLOKI), Pumpfun (PUMP), and JasmyCoin (JASMY) leading the decline, experiencing double-digit drops. Among the rising tokens, Memecore (M) and Story (IP) both saw slight increases.

From a technical perspective, M suggests a potential breakout from the range, while the wedge breakout of IP shows strong rebound momentum, indicating a bullish trend.

Ethereum rebounded slightly in the Asian early session today (24th), currently reporting at 3,658 USD. It previously tested the 78.6% Fibonacci level at 3,525 USD (from the rise of 4,107 USD on December 16 to the low of 1,385 USD on April 9), hitting a low on Wednesday. The lower shadow of the previous day's K-line reflects the demand for key support levels.

If Ethereum maintains its bullish momentum, it may test the psychological barrier of $4,000.

Nevertheless, with the decline of the green histogram, the Moving Average Convergence Divergence (MACD) and its signal line are gradually approaching a reversal crossover. The Relative Strength Index (RSI) on the daily chart is at 76, indicating that the market is in an overbought state.

The downside is that if ETH decisively closes below $3,525, it may extend the downtrend to the 61.8% level, which is $3,067.

(Source: Trading View)

Memecore (M) strives to break free from horizontal fluctuations

As of the time of publication on Thursday, M is slightly rising in the consolidation on the 4-hour price chart. The recent rebound target is set at the 23.60% Fibonacci level of the trend at 0.5430 USD, and M is gradually approaching the psychological barrier of 0.5000 USD.

If the closing price is above that level, it indicates a breakout from the horizontal range, with a target possibly at the 50% Fibonacci level of 0.7968 USD.

The MACD indicator shows that the green histogram is on an upward trend, indicating that bullish momentum is strengthening. However, the RSI indicator is flat at 64 below the overbought boundary, indicating that buying pressure is weakening.

On the other hand, the reversal of M may retest the 50-period Exponential Moving Average (EMA) at $0.4028.

(Source: Trading View)

The wedge breakout rebound target for Story (IP) is $6.16

As of Thursday's press release, the IP price has risen nearly 2%, closing with the fifth consecutive bullish candle. On the daily chart, the rebound momentum from the wedge breakout has further strengthened, breaking through the psychological barrier of $5.00.

With the continuation of the bullish momentum, the target for IP is the resistance level of $6.16 at the close on March 25.

The 50-day EMA is about to cross above the 100-day EMA, which is a potential buy signal as the short-term rebound exceeds the long-term trend.

Technical indicators show a strengthening bullish momentum, as the green histogram bars in the MACD indicator surge, and the RSI enters the overbought zone at 74, while buying pressure increases.

On the contrary, if the IP falls below the support level of 4.96 USD, it may test the 100-day EMA of 4.03 USD.

(Source: Trading View)