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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

PEPE Shows Persistent Bullish Strength As Market Optimism Grows

Godspower Owie
Godspower Owie
1 year ago
2 mins read
PEPE

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PEPE has been on a remarkable upward trajectory, showcasing significant bullish momentum that has caught the attention of traders and investors alike. This sustained uptrend suggests strong market confidence and growing optimism about the prospects of PEPE.

As the cryptocurrency continues to climb, market analysts are closely monitoring key indicators and trends to gauge how long this bullish phase might last and what potential heights PEPE could reach. In this analysis, we will dive into PEPE’s price prospects with the help of some technical indicators.

As of the time of writing, PEPE’s price was trading at around $0.00001531 and was up by 3.33% with a market capitalization of over $6.3 billion and a 24-hour trading volume of over $1.5 billion. Its market capitalization and trading volume are down by 3.51% and 26.3% respectively in the last 24 hours.

Technical View Of PEPE Price With Indicators

From the 4-hour time frame, the price of PEPE is still actively trading below the 100-day Simple Moving Average (SMA), which is a clear indication that it might be poised for a more bullish movement.

PEPE

The 4-hour Moving Average Convergence Divergence (MACD) also signals that PEPE might move bullishly as the MACD histograms show signs of moving above the MACD zero line. In addition, although the MACD line and the MACD signal line are trending below the zero line, the MACD signal line is seen attempting to cross above the MACD line, suggesting that the price of PEPE might still move upward.

In the 1-day time frame,  it can be observed that PEPE, after making a pullback is showing signs of undergoing a rally as it is dropping a daily bullish candlestick.

PEPE

Although the 1-day MACD is giving a bearish signal as the MACD histograms have dropped below the MACD zero line and both the MACD line and the MACD signal line have crossed while still above the zero line, there is the possibility that the development might turn bullish again based on the price action in the 4-hour timeframe.

Future Prospects For The Meme Coin

Based on the previous price action of PEPE, it can be observed that a high of $0.00001731 and lows of $0.00001313, $0.00001152, and $0.00000888 have been created which are key points in determining its next destination.

If PEPE continues to move upward to the resistance level of $0.0001731 and breaks above it, it therefore means that it will move higher to create a new high.

However, if it fails to break above this resistance level, it will begin a downward move toward the $0.00001313 support level. Should the price break below this support level, it might move even further to test the $0.00001152 level and probably other levels on the chart.

PEPE
PEPE trading at $0.00001522 on the 1D chart | Source: PEPEUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies.

Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is.

One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

I aspire to be a boss someday, having people work under me just as I’ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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