Pepe Price Prediction: PEPE Pumps 5%, But Investors Are Flocking To This PEPE 2.0 With A 259% APY
The Pepe price surged 5% in the last 24 hours to trade at $0.000008187 as of 00:42 a.m. EST on trading volume that plunged 50% to $1.6 billion.
This comes as the crypto market recovers from a market crash on Monday that saw BTC drop below $50,000. With BTC rebounding to $57,000, the market seems to be recovering as investors buy the dip, with PEPE now on a sustained bullish trend reversal.
Pepe Price Aims To Continue With The Bullish Reversal
The Pepe price soared from mid-July to the end of July, soaring to the $0.00001288 resistance level, according to data from GeckoTerminal . The bears took control of the price at this level, as the price of Pepe dropped, forming a rounding bottom pattern.
PEPE then breached the neckline at $0.000008534 to drop to the $0.000006024 support level. The bulls then took over, as the price of Pepe has been on a sustained bullish trend reversal, with the price now trading within the neckline.
The Relative Strength Index (RSI) is rebounding from the 30-oversold region. It is currently trading at 49 and still soaring on the 4-hour chart. With the RSI soaring, it shows that buyers have the upper hand.
Moreover, the Moving Average Convergence Divergence (MACD) also shows that the token is currently on a bullish trend, as the MACD lines rebound from below the neutral line. The blue MACD line also crosses above the orange signal line, an indication of a bullish crossover.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Base hit a record of 106.26 TPS, up nearly 28% since November 23
220 WBTC transferred from Wintermute to unknown wallet, worth over $20 million
Hut 8 CEO: The current balance sheet Bitcoin holdings are 9,100
ARK Invest sold 20,552 Tesla shares yesterday