PEPE Holds as It Has a Strong Tendency to Rise When It Pauses – July 9, 2023
PEPE/USD is retracing above the moving average lines and experiencing bearish exhaustion. The altcoin has established support above the $0.0000015000 low and has returned to its former range-bound zone. Here are the key points:
– PEPE price is currently at $0.000001554 with a market cap of $608.68M.
– PEPE has a circulating supply of 391.79T PEPE and a total supply of $653.95M.
– PEPE is ranked #68 on Coinmarketcap.
Following a recent rejection from an overbought market zone, PEPE is in decline and has retreated to its previous range-restricted zone. The altcoin will likely move in a range between $0.0000015000 and $0.0000017000 for the next few days. However, selling pressure will return if the bears violate the current support or fall below the moving average lines. PEPE is currently at Relative Strength Index level 54 and has a strong tendency to rise when it pauses.
PEPE/USD – 4 Hour Chart
PEPE/USD is in a positive trend and may rise to prior highs. The crypto asset has retraced above the moving average lines and formed Doji candlesticks, indicating hesitation between buyers and sellers. If the present support holds, PEPE will rebound and break above the initial resistance, rallying above the $0.0000019000 high.
Pepe Alternatives
PEPE has a significant tendency to rise when it is above the moving average lines or in the positive trend zone. It failed to break through the resistance at $0.0000019000 during the first rise but may resume upside momentum if it breaks through the resistance at $0.0000020000. The market could rise to a high of $0.0000045000.
Hot Take
PEPE/USD is currently experiencing a pause in its rise after establishing support above a key level. With a strong tendency to rise when it pauses, there is potential for the altcoin to rebound and break above resistance, leading to a rally in price. However, selling pressure could return if the current support is violated. It will be important to monitor the movement of PEPE in the coming days to assess its future direction.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.