PEPE Coin Gains Momentum, Eyes Continued Growth
Regardless of the present downturn of the crypto market, PEPE coin has been one of many tokens that’s nonetheless holding sturdy as its value remains to be buying and selling above the 100-day Easy Transferring Common (SMA) and the trendline.
The token whose complete liquidity is valued at over $38 million and a 24-hour buying and selling quantity of over $4.9 million as soon as dropped beneath the shifting common, touched the trendline, and is presently trending above the shifting common as soon as once more.
As of the time of writing, PEPE remains to be trending above each the 100-day SMA and the trendline. The value is presently buying and selling at $0.00000872, indicating about 3.57% enhance within the final 24 hours.
Technical Indicators Reveal Indicators Of Continued Upward Motion For PEPE
4-hour RSI Indicator: Wanting on the Relative Energy Index (RSI) indicator from the 4-hour timeframe, it may be noticed that the RSI line is trending above the 50 stage. This means the worth remains to be bullish for the time being. Additionally, there’s a divergence between the worth motion and the RSI line as indicated by the crimson strains within the picture, which suggests a future potential drop in value.
4-hour MACD: Wanting on the formation of the MACD indicator from the 4-hour timeframe within the above picture, we are able to additionally see that each the MACD line and the sign line crossed above the MACD zero line suggesting a continuation of the uptrend. Alternatively, the MACD histogram is already trending above the MACD zero line, suggesting that the worth of PEPE remains to be bullish.
4-hour Alligator: A take a look at the alligator indicator from the 4-hour timeframe reveals that the worth of PEPE is buying and selling above the alligator strains because the alligator lip and tooth are each above the alligator jaw. It will also be noticed that the worth dropped beneath the alligator line after which moved above the strains once more, suggesting that the worth may proceed to maneuver within the upward course.
Closing Notice
At the moment, the worth of PEPE is shifting towards the resistance stage of $0.00000916 and if it manages to interrupt previous this stage, it would transfer additional as much as retest its all-time excessive.
Quite the opposite, if the worth fails to interrupt above this resistance stage, it’ll begin to transfer downward towards its earlier assist stage of $0.00000756. And if it breaks beneath the assist stage, it would even transfer additional in direction of the $0.00000591 assist stage.
Featured picture from iStock, chart from Tradingview.com