Fun

PEPE Upsurge Stalls At Key Resistance, Eyeing Support At $0.00001152

News Feed - 2024-11-12 12:11:03

Este artículo también está disponible en español.


PEPE rallyhas come to an abrupt halt, as the price faces rejection at resistance and begins its descent toward the key support level of $0.00001152. After a strong upward push, the token has encountered significant selling pressure, raising concerns about the sustainability of its bullishstrength. Now, all eyes are on the $0.00001152 mark to determine if it can support a rebound or if this is the beginning of a deeper pullback.


This article aims to navigate PEPE‘s recent price action as it encounters resistance, causing the rally to stall and the price to fall toward the crucial support level of $0.00001152. Through technical analysis, this piece assesses whether $0.00001152 will serve as a reliable support zone for a potential recovery or if the bearish pressure will push PEPE further downward.  Resistance Strikes: What Halted Momentum Of PEPE?


Recently, PEPE’s price has turned bearish on the 4-hour chart, pulling back towards the $0.00001152 mark and the 100-day Simple Moving Average (SMA) after facing significant resistance at $0.00001313. This retracement signals growing bearish pressure, which could trigger a deeper correction for the cryptocurrency. PEPE resisting the 100-day SMA and $0.00001152 after encountering strong resistance | Source: PEPEUSDT on Tradingview.com


The 4-hour Relative Strength Index (RSI) shows a decline from 77% to 60%, indicating a weakening of upbeat momentum. As the RSI moves closer to neutral, buying pressure has subsided, and the market’s confidence in the uptrend is fading. Specifically, this shift suggests that PEPE may be entering a correction phase, with the potential for further downward movement if the trend continues. Related Reading PEPE Midterm Price Prediction: Is A 326% Rally To $0.00003474 Possible From Here? 1 week ago


Although PEPE is trading above the 100-day SMA, the daily chart shows increasing negative sentiment with bearish candlesticks and a decline toward $0.00001152, reflecting rising selling pressure as the meme coin struggles to hold higher levels. If bulls don’t defend the current support, additional declines are possible, making the 100-day SMA critical to watch for a reversal or continued correctional movement. PEPE struggling to maintain higher levels | Source: PEPEUSDT on Tradingview.com


Finally, on the 1-day chart, the RSI is declining from its peak of 69%, indicating a potential shift in momentum. As the RSI nears the overbought threshold of 70%, this shows that buyingpressure is easing, and the recent uptrend may be losing strength. The drop could signal a pullback or consolidation, with PEPE possibly entering a correction phase before attempting to regain upside pressure. Can The $0.00001152 Level Hold As Support?


The marketis testing its strength as PEPE’s price approaches the key support level of $0.00001152. This level has become crucial in determining whether the current bearish momentum will continue or if the price can stabilize. Should $0.00001152 hold, it may provide a foundation for a possible rebound, allowing bulls to regain control and resume the upsidetrend. Related Reading Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead 2 weeks ago


However, a breakdown below this level could signal additional declines, which could push the price toward the $0.00000766 support range and other lower levels. PEPE trading at $0.000012 on the 1D chart | Source: PEPEUSDT on Tradingview.com Featured image from Shutterstock, chart from Tradingview.com

News Feed

Cryptopunks and BAYC Floor Values Go Head-to-Head, as the Punks Briefly Surpass Bored Apes
Cryptopunks and BAYC Floor Values Go Head-to-Head, as the Punks Briefly Surpass Bored Apes On Sunday, August 21, 2022, the floor value of the Cryptopunks non-fungible token (NFT) c
Jesse Coghlan3 hours agoFTX splurged on cartoon, book about humans and ‘Pineapple House,’ alleges CEOThousands in grants were given out by former FTX executives for niche projects, according to a report by FTX restru
Charts Reveal Cardano Holds Key Support Zone – Staying Above Could ‘Set The Next Move’
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 pu
CBD Coffee Company Leverages Censorship-Resistant Nature of Crypto
CBD Coffee Company Leverages Censorship-Resistant Nature of Crypto On December 8, the U.S.-based coffee firm that uses cannabidiol (CBD) in its product, Crazy Calm, launched a pr
US Senate Majority Leader to speak at crypto event for Kamala Harris
Turner Wright5 hours agoUS Senate Majority Leader to speak at crypto event for Kamala HarrisSenator Chuck Schumer and 10 Democratic senators sided with Republicans to pass a resolution overturning an SEC rule on banks ho
Bitcoin ETFs set for ‘even bigger wave’ in next few months: Bitwise
Brayden Lindrea8 hours agoBitcoin ETFs set for ‘even bigger wave’ in next few months: BitwiseBitwise’s CIO Matt Hougan’s comments come as Bank of America’s Merrill Lynch and Wells Fargo reportedly started offer
First for SEC: Crypto Lending Platform Charged — Blockfi Agrees to Pay $100 Million in Penalties
First for SEC: Crypto Lending Platform Charged — Blockfi Agrees to Pay $100 Million in Penalties The U.S. Securities and Exchange Commission (SEC) has charged cryptocurrency lend
Zuckerberg: Facebook Would Quit Libra if the Association Launched Prematurely
WASHINGTON – Facebook CEO Mark Zuckerberg told lawmakers that the company would pull out of the Libra Association in the event the consortium launched its proposed cryptocurrency without all needed regulatory appr
AMC Theatres to Accept Dogecoin and Shiba Inu Payments in Coming Weeks, CEO Says
AMC Theatres to Accept Dogecoin and Shiba Inu Payments in Coming Weeks, CEO Says The CEO of the world’s largest movie exhibition company, AMC Entertainment, has announced th
Regulated Bitcoin ETPs Skyrocket, Coinshares Cites ‘Unprecedented Interest from Institutional Investors’
Regulated Bitcoin ETPs Skyrocket, Coinshares Cites "Unprecedented Interest from Institutional Investors" The Sweden-based XBT provider Coinshares saw roughly $20
WonderFi expands to Australia — Blockchain Futurist Conference
Vince Quill2 hours agoWonderFi expands to Australia — Blockchain Futurist ConferenceThe crypto firm merged with Coinsmart and Coinsquare in 2023, securing $1 billion in assets under management in the same year.293 Tota
Ethereum to launch first $2M protocol-wide ‘Attackathon’
Jesse Coghlan6 hours agoEthereum to launch first $2M protocol-wide ‘Attackathon’Ethereum’s security team is planning a four-week hackathon to test the blockchain’s security and wants to do one for every future ha