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Pepe price analysis: PEPE market surges as bullish activity takes the lead

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TL;DR Breakdown

  • Pepe price analysis shows a bullish market sentiment.
  • PEPE is trading at $0.000001493, up by 2.39 percent.
  • Resistance for PEPE is present at $0.000001523.

The recent Pepe price analysis shows an increase in market activity, with PEPE trending upwards over the past 24 hours. PEPE’s price action has been relatively bullish, having established a new daily high of $0.000001523. PEPE is trading at $0.000001493, up by 2.39 percent from its 24-hour low of $0.000001428.

The support level for PEPE is currently at $0.000001430, while the resistance level is at $0.000001523. The support level is acting as a buffer for PEPE’s price action, but it is also important to note that the market sentiment remains bullish. The resistance level is also providing a barrier to the upward trend, which could signal a potential reversal in the near future if the selling pressure persists.

The market capitalization for PEPE is currently at $585 million USD, up by 2.42 percent from its yesterday’s close. The trading volume for the past 24 hours has reached a peak of $132 million USD, with a circulating supply of 391,790,000,000,000 PEPE tokens in the market.

Pepe price analysis 1-day chart: PEPE trades in an uptrend despite a low trading volume

On the daily chart, Pepe price analysis shows an uptrend pattern in PEPE’s price action. The chart also shows that the trading volume is relatively low, indicating that the buying activity is limited today. Despite this, PEPE’s price has been rising steadily, and it appears as though its momentum will continue into the near future.

image 984Pepe price analysis: PEPE market surges as bullish activity takes the lead
PEPE/USD 1-day chart, Source: TradingView

On the technical indicators, PEPE shows a bearish outlook since the bulls have not yet taken control of the market. The relative strength index (RSI) is currently at 51.15, which indicates a neutral market sentiment. Meanwhile, the moving average convergence divergence (MACD) is trending downwards but remains below the zero line. Despite this, the red bars on the histogram are fading, suggesting that the trend could be reverting to a bullish outlook in the near future. The Bollinger bands are also in a state of contraction, further confirming that the trend is highly volatile.

Pepe price analysis 4-hour chart: Bulls take the lead

Pepe price analysis on the 4-hour chart shows bulls taking the lead. The chart reveals that PEPE’s price has been increasing steadily in recent hours despite some minor pullbacks. If the buyers continue to dominate, we could expect PEPE’s price to break through the immediate resistance of $0.000001523 and resume its bullish momentum.

image 983Pepe price analysis: PEPE market surges as bullish activity takes the lead
PEPE/USD 4-hour chart, Source: TradingView

On the technical indicators, PEPE shows a bullish outlook. The relative strength index (RSI) is currently at 50.68, which suggests that PEPE has room to move higher before it reaches overbought levels. Meanwhile, the moving average convergence divergence (MACD) is trending upwards and has crossed above the zero line, suggesting that buying pressure is increasing in the market. The Bollinger bands are also expanding, indicating that volatility is on the rise.

Pepe price analysis conclusion

Overall, Pepe price analysis shows a bullish market sentiment for PEPE. The token is currently trading at $0.000001493 and is supported by a strong daily uptrend of $0.000001428. Trading volume has been relatively low today, but this could increase in the near future if the buying pressure persists.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

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