Analisis Teknikal PEPE/USDT, Ada Potensi Reli 48 Persen
Release: 2024/09/26 23:54 Reading: 662
Technical analysis of PEPE/USDT indicates potential upside movement
Technical analysis of PEPE/USDT suggests a bullish bias, as the meme token is poised for a potential upside rally of 48% to $0.00001337.
PEPE's price is currently displaying strong momentum above the 61.8% retracement level ($0.00000709) as a golden ratio since September 9, 2024. This indicates a potential reversal from the bearish trend to a bullish one. The current price action highlights a strong support level at $0.00000903, which represents the 50% retracement level. Although the momentum is still developing, the bullish outlook remains promising.
Fibonacci retracement analysis on the weekly time frame reveals the 50% level as a critical area for the continuation of the bullish trend. As long as the price remains above this level, it should act as new support. However, if selling pressure increases, the price may test this level as resistance. The next target price lies at the 38.2% Fibonacci level of $0.00001096.
Current market conditions indicate significant bullish potential. If the price decisively breaks through the 38.2% level with increasing trading volume, a stronger bullish move is likely, according to the technical analysis of PEPE/USDT. However, if the price fails to break this level, a brief consolidation or retracement may occur before a new trend can establish itself.
The subsequent target for this cryptocurrency stands at the 23.6% Fibonacci level of $0.00001337. This level has garnered attention as a potential resistance point, offering an upside potential of 48% from the current price of $0.00000901.
The relative strength index (RSI) further supports the bullish scenario, as a bullish crossover has formed on the weekly chart (September 23, 2024) above the 50% RSI level. This implies further upside potential, as such positive RSI momentum was last seen before the bearish crossover on May 27, 2024, which confirmed the corrective trend.
Overall, technical analysis of PEPE/USDT suggests that the market is in a bullish phase. The successful defense of the 61.8% Fibonacci golden ratio and a sustained break above the 50% retracement level have set a positive tone. Confirmation of the bullish bias could come in the following week if the weekly candlestick on September 30 remains above the 50% level ($0.00000903) and the 20-week EMA, which will then become a strong support level.
As a supporting narrative for this positive scenario, there is a shift in market sentiment from Bitcoin (BTC) dominance to altcoins. Cryptocurrency analyst Ali Martinez highlights that Bitcoin's dominance is showing signs of breaking down from a rising wedge pattern, which is typically a bearish signal in technical analysis. This pattern suggests that the upward momentum is waning, and the risk of a decline is increasing. On the other hand, Martinez observes that the altcoin market capitalization has broken out of a falling wedge pattern. This indicates that altcoins are poised for an extended rally, potentially leading to a bull run.
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