[ad_1]
PEPE’s volatility exploded in the past few days, with the price moving by over 30% in a day.
Key Support levels: $0.0000013
Key Resistance levels: $0.0000010
After a long period of low volatility, PEPE’s price action changed on Monday when the SEC sued Binance. The price quickly moved up and down by over 30% and, in the process, made a new low. This has created a large descending triangle which could be interpreted as bearish.
The current support is at $0.0000010, and the resistance is at $0.0000013. With the price quickly approaching the apex of this formation, PEPE could make a major move in the next few days.
Trading Volume: The volume picked up on Monday, with bears dominating the chart.
RSI: The daily RSI is under 50 points and continues to give a bearish bias due to it making lower highs.
MACD: The daily MACD is negative. However, the histogram is making higher lows which could signal that this downtrend may find a bottom in the near future.
Bias
The bias for PEPE is bearish.
Short-Term Prediction for PEPE Price
It’s likely that the volatility to be high in the next few days, with a breakout from this triangle appearing imminent. Buyers have to do all they can to defend the key support at $0.0000010. Any failure there would open the way for PEPE to fall much lower and towards $0.0000005.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
[ad_2]
Source link