Is PEPE Gearing Up for a Rebound Despite 20% Decline?
Release: 2024/12/19 22:19 Reading: 483
Bullish Ascending Channel for PEPE, Approaching Resistance
Pepe (PEPE), the prominent memecoin, is currently trading at $0.00001929, experiencing a moderate decline of 10% over the past 24 hours. However, the trading volume has increased by 66% within the same period, suggesting heightened market activity. In the past week, PEPE has witnessed a 22% drop, reaching a 22-day low of $0.00001944. Notably, it achieved an all-time high (ATH) of $0.00002825 10 days ago.
Price Analysis
Technical analysis indicates that PEPE has formed an ascending channel pattern, characterized by successively higher highs and lows. Crucial resistance levels (R1 and R2) are located at $0.00002166 and $0.00002473, respectively. Support levels (S1 and S2) are at $0.00001730 and $0.00001568. The daily Relative Strength Index (RSI) stands at 43, implying that PEPE is approaching oversold territory, possibly indicating a potential rebound.
On-Chain Metrics
On-chain metrics support the bullish outlook. Data from Coinglass shows that exchanges have witnessed $15 million in outflows over the last two trading days. These movements commonly indicate that long-term holders and whales are transferring assets to private wallets, signaling optimism regarding the token's future prospects.
Analyst Insights
Despite these positive indicators, PEPE's price action has displayed a mixed technical picture. The daily chart exhibits bearish indicators such as the invalidation of a falling wedge pattern and the emergence of a "three red crows" formation, suggesting continued selling pressure.
The broader cryptocurrency market remains uncertain as investors navigate Federal Reserve decisions on interest rates, which affect risky assets like cryptocurrencies. Data from Nansen indicates a decline in participation from "smart money" traders, with their PEPE holdings decreasing from 8 trillion tokens last month to 7.5 trillion currently.
In summary, analysts suggest that PEPE's technical and on-chain metrics point to potential upside momentum. However, bearish trends and market uncertainties pose significant risks.
Recent news
More>- Homosexual Pepe Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- BTFD Presale Captivates Investors in the Best New Meme Coin Presales for Significant Returns as PEPE and SPX6900 Dominate the Scene Fuel the... 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Before Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- The Metrics Pointing to Massive Potential for WIF, JASMY, and PEPE in 2025 01-01
- BTFD Coin’s Presale is Unmissable Amid Pepe and Moo Deng’s Crypto Hype: Best Meme Coin Presales to Join This Week 01-01
- Homosexual Pepe (HOMOPEPE) Solana Memecoin to Rally 18,000% Ahead of Exchange Listing, While SHIB, BONK and DOGE Crash 01-01
- Crypto Gems for the Next Quarter: Top 5 Tokens to Watch 01-01
- Why $PEPE Jumped 20% Today And Which Coin Could Be Next 01-01
- Best New Meme Coins to Join for Short Term: BTFD Raises $4.7M in Presale as BONK Boasts Low-Cost Transactions and PEPE Enjoys Steady Followi... 01-01
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Missed Pepe Unchained? Don’t Worry, This New Pepe-Themed Meme Coin Will Produce Bigger Gains in 2025
- 8 Top 4 Altcoins At 70% Discounts – Last Chance!
- 9 Smart $Pepe trader makes $11.7M profit during Market Drop
- 10 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com