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Pepe Coin has recently dipped by $0.000011, yet notably surpassed the $0.000010 mark for the first time since March 15.
pic.twitter.com/YgjVqtgcNS — Roaring Kitty (@TheRoaringKitty) May 13, 2024
PEPE’s upward trend coincides with the reappearance of Keith Gill, known as “Roaring Kitty,” on the social media platform X after a hiatus since June 2021. On May 12, Gill’s account featured an image of a man gripping a controller, poised to lean forward. This suggests a heightened level of engagement. The gesture was widely interpreted by users on X and Reddit as signaling a phase of “locking in.”
Pepe Coin Technical Overview
In recent trading sessions, the Pepe coin price has demonstrated an interesting pattern on the 4-hour chart, suggesting potential movement that traders might want to monitor closely. Over the last few sessions, closing prices have shown a modest uptrend.
The Exponential Moving Averages (EMAs) are signaling bullish sentiment in the market. The 9 EMA has consistently increased, staying above the 20 EMA, which itself has also risen. This indicates a strong bullish trend, as the shorter EMA remains above the longer EMA.
The Moving Average Convergence Divergence (MACD) provides further bullish confirmation. The MACD line has been rising above its signal line, with values increasing from 0.00000034 to 0.00000056. The histogram, which measures the distance between the MACD line and its signal line, has also been positive and growing, indicating increasing bullish momentum.
The Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, has remained above 68 during the period, peaking at 76. This suggests strong buying pressure, although nearing the overbought territory could also signal potential pullbacks.
Levels to Watch
Current trading levels suggest that PEPE has robust support at $0.00000855, with additional support levels at $0.00000838 and $0.00000832. These levels could serve as critical junctures for traders, providing potential buy-in points if the price were to retrace.
Given the bullish indicators, traders might consider long positions if the price dips to the support levels, particularly around $0.00000855, with an eye on taking profits before resistance levels. Conversely, should the price break below the support at $0.00000832, it might be prudent to consider short positions, anticipating further declines.
Overall, the technical indicators for the Pepe coin price on the 4-hour chart suggest a bullish outlook, with strong support levels to consider for entry points. Traders should monitor these levels closely for potential buy or sell signals based on price actions and volumes.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Ecoinimist is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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