Is It Too Late To Buy TRUMP? Pepe Price Skyrockets 57,444% In A Week And This Might Be The Next Crypto To Explode
Release: 2024/10/28 01:49 Reading: 977
Pepe Price Skyrockets by 57,444%
The Pepe price has surged by an impressive 57,444% in the past week and 132% in the last 24 hours, trading at $0.00007596 as of 8:10 p.m. EST. This surge has been accompanied by a 48% increase in trading volume to $709k.
According to CoinGecko, this surge has made Pepe (TRUMP) the top performing PolitiFi token over the past week.
GoPlus Raises Concerns
However, GoPlus has expressed concerns about the project's contract, alleging that it contains malicious code and is potentially a honeypot scam.
Bullish Trend for TRUMP/USD
The TRUMP/USD trading pair exhibits a strong bullish trend on the 30-minute timeframe. The price is currently around $0.00001211, moving within a defined bullish channel.
This upward movement has taken on a parabolic curve, indicating increasing buying pressure as the price approaches the upper channel boundary. Such formations often suggest a growing bullish momentum.
Supporting Indicators
The 50 Simple Moving Average (SMA) at $0.000007824 is trending upward, providing dynamic support within the bullish channel. The price significantly above this SMA further reinforces the uptrend.
Additionally, the 200 SMA is significantly lower at $0.00003192, creating a large gap between the two SMAs. This gap highlights the strength of the bullish momentum and indicates a consistent upward trend over time.
Short-Term Correction Signal
The Moving Average Convergence Divergence (MACD) shows positive momentum, with the MACD line above the signal line and the histogram reflecting positive values. This suggests that buyers are currently in control, supporting the bullish bias.
However, the Relative Strength Index (RSI) is at 70.34, entering the overbought zone. An RSI above 70 often indicates that the Pepe price may be overbought, potentially leading to a pullback as traders take profits.
Resistance and Support Levels
The bullish trend remains strong, underpinned by both moving averages and the parabolic curve. The price may encounter resistance near the upper boundary of the bullish channel or if the RSI rises further into the overbought zone.
On the downside, the 50 SMA and the lower boundary of the channel are likely to act as dynamic support levels if a pullback occurs. These levels present potential entry or exit opportunities for traders, depending on short-term momentum changes.
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