Memetic / PepeCoin

Due to the bulls failing to surpass the intraday high of $0.000001265, PEPE&#39;s price dropped to the 7-day low of $0.000001148 in the last 24 hours. Despite the initial decline, the price of Pepe mildly recovered, settling around $0.000001196, a $4.62 drop from the intraday high, at the time of press.This minor rebound indicates that there is still some buying pressure in the market and suggests the possibility of additional price movement.PEPE&#39;s trading volume signals sustained interest! With the price decrease, PEPE&#39;s market capitalization dropped by 5.11% to $468.54 million, while its 24-hour trading volume increased by 8.89% to $130.15 million. This uptick in trading volume indicates continued substantial interest and activity in the Pepe market, implying the potential for further fluctuations in prices.Despite being in the negative territory with a value of -0.000000017, the Moving Average Convergence Divergence (MACD) on the 1-hour PEPE/USD price chart is turning upwards. This formation suggests a potential easing of selling pressure and a potential shift towards bullish momentum.The histogram in the positive zone and the MACD line approaching zero indicate that buying pressure is beginning to outweigh selling pressure. This shift prompts investors to consider forming long positions in anticipation of a potential rally in the PEPE/USD price.With a Relative Strength Index (RSI) of 42.11 and in a downtrend, the market currently appears to be in a mildly bearish sentiment. However, since the RSI is still above 30, which is the oversold threshold, the price could rebound. If buying pressure continues and RSI rises, it could indicate a positive shift in market sentiment.The linear trend of the Keltner Channel bands touching the upper, middle, and lower bands at $0.000001242, $0.000001203, and $0.000001163 respectively suggests a market consolidation phase. If the price continues towards the middle band and forms a green candlestick, it indicates that buyers are taking control and the market might be preparing for a potential breakout.In addition to the potential bullish trend indicator, the Bull Bear Power (BBP) with a reading of 0.000000003 turning upward suggests increasing buying pressure. This BBP trend indicates an increasing imbalance between buyers and sellers, with buyers gaining market dominance. This movement contributes to a potential breakout scenario and enhances the positive perspective of the market.In conclusion, Pepe&#39;s price demonstrating resilience amid fluctuations suggests a potential upward momentum in the future. Increased trading activity and positive indicators hint at a potential breakout.

PEPE bounced from its 7-day low: Is a potential breakout approaching?

Kripto Para Haber

Other articles published on Aug 17, 2023

Asset Management Company Valkyrie Makes Move for Ether Futures ETF in SEC Filing

Digital subsidiary Chicago stock exchange operator received CFTC approval to launch margin future...

Daily Analysis: Bears Dominate Session as BTC Drops Back to $28K

Bitcoin Miners’ Profit Hopes Pinned on BTC Surge Beyond $98K Before Halving Event, Analysis Shows

MicroStrategy Stock: Will MSTR Stock Regain the $400 Mark?

XRP Lawyer Says Filing Lawsuit Against Ripple's Brad Garlinghouse Is Costing SEC

Join our free newsletter for daily crypto updates!