PEPE Token on the Rise Despite Crypto Market Downturn

Despite the recent struggles in the cryptocurrency market, PEPE coin has shown resilience by maintaining its position above the 100-day Simple Moving Average (SMA) and the overall upward trend.

This token boasts a total liquidity value exceeding $38 million with a significant 24-hour trading volume of over $4.9 million. After briefly dropping below the moving average and touching the trendline, PEPE is once again trading above the moving average.

Pepe Token On The Rise Despite Crypto Market Downturn

Currently, PEPE is trading at $0.00000872 with a 3.57% increase in the last 24 hours, holding steady above both the 100-day SMA and the trendline.

PEPE’s Positive Technical Indicators

4-hour RSI Indicator: The Relative Strength Index (RSI) on the 4-hour timeframe indicates a bullish trend as the RSI line is above the 50-level. However, a divergence between price action and RSI suggests a potential future price decrease.

This positive momentum is further supported by the MACD indicator showing both lines crossing above the zero line and the histogram above zero, indicating a continuing uptrend. Additionally, the alligator indicator also points to a bullish sentiment.

Potential Price Movements for PEPE

PEPE’s price is approaching the resistance level of $0.00000916, and a successful breakthrough could lead to retesting its all-time high. Conversely, failure to surpass this resistance level may result in a downward movement towards the $0.00000756 support level, and potentially even lower to $0.00000591.

Overall, PEPE coin shows promising signs of sustained growth and positive price movements in the near future.

Bitrabo Editorial
Bitrabo Editorial
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