Popular Meme Coin Price Prediction: PUMP, REKT, BRETT Flash Buy Signals, Expected to Reverse Downtrend Rebound

Following the brief dumping the previous day, meme coins led by PumpFun (PUMP), Rekt (REKT), and Brett (BRETT) drove a recovery in the Crypto Assets market on Thursday (July 31), but all experienced pullbacks on Friday (August 1). Although the market generally believes that the Federal Reserve (FED) will maintain the interest rate in the range of 4.25% to 4.50%, the macroeconomic tensions triggered by Wednesday's FED rate decision still left many investors feeling anxious. FED Chairman Powell took a hawkish stance, expressing skepticism about the possibility of a rate cut in September against the backdrop of inflation concerns. The FED continues to dismiss President Donald Trump's calls for rate cuts, emphasizing its role in stabilizing inflation in the long term.

PUMP: Attempt to rebound after retracement from high point

PUMP is the most bullish meme coin on Thursday, rising over 15% with a trading price of $0.0031. Previously, the PUMP price had significantly retraced from its historical high of $0.0068 set after the token issuance on July 15.

The native token of the meme coin launch platform PumpFun is currently holding above the short-term support level of $0.0030 provided by the 50-period Exponential Moving Average (EMA) on the 4-hour chart. The Moving Average Convergence Divergence (MACD) indicator maintains a buy signal within the 4-hour time frame, with the blue line remaining above the red signal line. If investors heed the call to increase exposure, bullish momentum will stabilize and accelerate the rebound towards the resistance level of $0.0038 at the 100-period EMA. Traders should be cautious of the possibility of a reversal if the initial 50-period EMA is breached. If investors sell at the first signs of profit, a trend reversal may occur, potentially retesting the support level of $0.0022.

(Source: Trading View)

REKT: The Instability of Upward Trends and Potential Retracements

As for REKT, after reaching a new high of $0.000001233, its upward trend shows signs of wavering. This meme coin is currently hovering around $0.000001096, supported by the Relative Strength Index (RSI), which fell shortly after hitting the overbought zone, revealing signs of weakness.

If investors hold steady and firmly believe that REKT may rise further, entering the price discovery phase, a slight pullback could trigger a trend reversal. The MACD indicator still maintains a buy signal, which is triggered when the blue line crosses above the red line and stabilizes above it on Thursday.

(Source: Trading View)

BRETT: Intraday gains reduced and short-term support

On the other hand, Brett is quickly cutting back on the intraday gains, indicating that the volatility of the meme coin sector is surging at the time of writing this article. The current trading price of the token is $0.0565, and it remains above the initial support level of $0.0561 provided by the 100-period EMA.

The MACD indicator confirmed a buy signal during the morning trading session, rising near the zero line, supporting the upward trend. If the short-term support level at $0.561 holds and bulls buy at lower price levels, a rebound may occur, targeting around $0.0667, a level that was tested on July 23.

However, as the RSI approaches the midpoint after peaking at 60, traders should also be concerned that the reversal momentum will strengthen as buying pressure weakens. Potential profit-taking is another factor to consider before seeking investment.

(Source: Trading View)

Conclusion:

PUMP, REKT, and BRETT, these three popular meme coins showed different trends after the interest rate decision by The Federal Reserve (FED). Despite facing macroeconomic tensions, their respective technical indicators flashed buy signals, indicating potential rebound opportunities. However, the high volatility of meme coins also reminds investors to carefully assess risks while chasing high returns.