Ulta Beauty’s stock price (ULTA) rose in the intraday levels, amid the dominance of the main downward trend in the medium term, while trading alongside the trend line, with negative signals from the RSI after reaching overbought levels compared to the stock’s movements, hinting at negative divergence, with negative pressure due to trading below the 50-day SMA.

Therefore we expect the stock to return lower, targeting the support of $318.30, provided the resistance of $375.30 holds on.

Trend forecast: Likely Bearish 

Enphase Energy’s stock price (ENPH) fell in the intraday levels, amid the dominance of the upward correctional trend in the medium term, while gathering positive momentum to rise anew, as it also vented off overbought saturation in the RSI, with negative signals coming out of it, with the stock finally leaning on the support of the 50-day SMA. 

Therefore we expect the stock to return higher, targeting the pivotal resistance of $138.20, provided the support of $104.00 holds on.

Trend forecast: Likely Bullish 

What Are Meme Cryptocurrencies?

Meme cryptocurrencies are not just jokes but represent investment opportunities that have skyrocketed in value unexpectedly. These coins, inspired by internet memes, have gained rapid popularity, fueled by influencer support. Now is the perfect time to take advantage before it's too late.

Why Invest in Meme Coins Now?

• Low prices and an opportunity to buy before they surge dramatically.
• Short-term trading opportunities that can yield significant profits quickly.
• Strong influencer support makes these coins rise unpredictably, increasing their appeal.

Key Risks to Watch Out For

• Rapid and unexpected price volatility driven by rumors and announcements, creating both opportunities and challenges.
• Regulatory and economic risks can negatively impact investments, but careful analysis can help mitigate these risks.
• Large or unlimited supply can lead to inflationary pressures, but savvy investors know how to play this game to their advantage.

Best Meme Coins Trading Platforms 2024

• Pepperstone - Best overall meme coins trading broker for beginners. Multiple regulated licenses. Minimum deposit: $0. 20% discount on deposit.
• Plus500 - Best licensed broker for investing in meme coins CFDs. Multiple regulated licenses. Minimum deposit: $100.
• XM - Top meme coins trading platform for educational materials and copy trading. Multiple regulated licenses. Minimum deposit: $5. Periodic competitions and bonuses.

Pepperstone

Licenses:

CySEC, BaFin, FCA, SCB, CMA

Minimum Deposit:

$0

Trade Now

XM

Licenses:

CySEC, ASIC, IFSC, DFSA, FCA

Minimum Deposit:

$5

Trade Now

6 Best Meme Coins to Buy Now

1. Dogecoin (DOGE): The king of meme coins that started as a joke in 2013 and became one of the most famous cryptocurrencies due to extensive community support.
2. Shiba Inu (SHIB): The main competitor to Dogecoin, known as the "Dogecoin Killer." Its massive supply makes it accessible to everyone, enhancing profit potential.
3. Pepe (PEPE): A new coin that quickly gained popularity thanks to its playful appeal and nostalgia, attracting massive investments.
4. Dogwifhat (WIF): A new meme coin within the Solana ecosystem, characterized by its fun nature and easy access on major trading platforms.
5. Floki (FLOKI): Inspired by Elon Musk's dog, this coin has evolved into a project that combines memes with real-world applications, boosting its investment value.
6. Bonk (BONK): A recent coin that gained significant attention thanks to the distribution of its supply to the Solana community, which rapidly increased its popularity.

Future Forecasts for the Top 6 Meme Coins

1. Dogecoin (DOGE): Forecasts suggest that Dogecoin may reach new levels with increased adoption and use as a payment method. The price is expected to reach $0.20 - $0.30 by 2025.
2. Shiba Inu (SHIB): With increased token burning and ecosystem improvements, Shiba Inu's price could reach $0.00002 - $0.00005 in the coming years, opening the door to substantial gains.
3. Pepe (PEPE): If the current trend continues and community support grows, PEPE's price could reach $0.000005 - $0.00001 by 2025, increasing its investment appeal.
4. Dogwifhat (WIF): The coin is expected to see strong growth as its community expands, potentially driving its price up to $0.00002 - $0.00004 in the next few years.
5. Floki (FLOKI): With ongoing development and increased platform adoption, FLOKI's price could rise to $0.0001 - $0.0002 by 2025.
6. Bonk (BONK): If development momentum and support from the Solana community continue, BONK could reach $0.000005 - $0.00001 in the coming years.

How to Reduce the Risks of Investing in Meme Coins

Brent oil price provided additional negative trades this morning to approach 73.00$ barrier, waiting for more decline to test 72.90$ as a first station, reminding you that breaking it will push the price to head towards 71.60$ areas as a next main target.

The EMA50 supports the continuation of the suggested bearish wave, which will remain valid unless the price rallied to breach 75.80$ and hold above it.

The expected trading range for today is between 72.20$ support and 75.20$ resistance.

Trend forecast: Bearish