- PEPE’s price shows a 1.97% decline, but TD Sequential buy signals suggest a potential market reversal after recent drops.
- The price of PEPE is approaching a key support of 0.00009450 USDT, and the short-term moving averages are above the long-term averages.
- Although the recent price movement of PEPE presents a bearish MACD and a fluctuating volume, the company might be on the edge of a momentum change.
Pepe Token against Tether, has faced a significant drop in recent weeks, as price action hovers around 0.00009450 USDT. The token shows a decrease of 1.97% as of the latest data, signaling bearish pressure. Despite this, key technical indicators hint at a potential market reversal.
PEPE’s price has been on a downward trend, with recent candlesticks indicating strong selling momentum. The price remains below a critical red dashed line, signaling a potential support zone approaching. This decline follows a period of sharp drops, as shown by the candlestick patterns, which suggest the market may be nearing a point of reversal.
The market’s shift is evident as recent patterns form bullish indicators, like the TD Sequential buy signals. These signals are manifested in the form of green arrows that leave the likelihood of the existing price downtrend being succeeded by an upward trend. These signals following a decline signalizes the possibility that PEPE is about to enter a reverse process.
Moving Averages and MACD are the important Technical Indicators.
The moving averages (MA) indicate that PEPE was trading below its longer-term MAs and has weak short-term momentum. The 10-period moving average, which stands above the 200-period MA, is however unable to trend in the opposite direction. The levels of 0.00009450 USDT can be considered the crucial levels that help traders understand whether the trend is reversing or not.
Source: chart.ainvest
The MACD indicator is kept below the zero line which supports the bearish trend. The negative momentum of the MACD is not raising much concern given that the shorter-term MAs converge towards the longer ones, indicating that the turnaround may occur. The volume trend of PEPE is fluctuating and the trading volume is variable with few spikes of trading activities in the market.
Disclaimer:Â The information in this press release is for informational purposes only and should not be considered financial, investment, or legal advice. Coin Crypto Newz does not guarantee the accuracy or reliability of the content. Readers should conduct their own research before making any decisions.
