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The Pepe price dropped slightly in the last 24 hours to trade at $0.000007136 at press time.
Pepe Price Overview
4-hour chart for PEPE/USDT (Source: TradingView)
In the past 48 hours, traders and investors have witnessed a fluctuating trend in closing prices for the Pepe price on the 4-hour chart, with a recent downtrend from $0.00000734 to $0.00000705. Despite the slight volatility, the meme coin remains a topic of interest in the crypto trading community.
The 9 Exponential Moving Average (EMA) has shown a descending trajectory, suggesting a bearish momentum in the short term. This is further corroborated by the 20 EMA, which has also decreased, indicating a potential consolidation phase or a continuation of the downtrend in the medium term.
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The Moving Average Convergence Divergence (MACD) indicator, a key tool used to identify potential price movement direction, has its MACD line moving below the signal line across the recent periods. The negative histogram values also hint at bearish momentum, suggesting that sellers are currently in control of the market.
The Relative Strength Index (RSI) is currently below the neutral 50 mark, indicating bearish momentum. The RSI values have declined from 40.22 to 35.33, suggesting a growing bearish sentiment among traders.
Key Levels to Watch
Considering the current technical indicators and price actions, PEPE faces immediate resistance at $0.00000759, followed by stronger resistance levels at $0.00000782 and $0.00000805. On the downside, support levels are established at $0.00000698, with further supports at $0.0000067 and $0.00000631. These levels are critical for traders to monitor for potential bullish reversals or bearish continuations.
For traders considering entry and exit points, the current bearish indicators suggest potential short positions could be considered on rallies towards resistance levels, with tight stop-loss orders to manage risks. Conversely, long positions could be contemplated if the pair shows signs of a bullish reversal, especially if it breaks above the 9 EMA with increasing volume, aiming for exits near the identified resistance levels.
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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