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- The price of the popular memecoin PEPE surged over 50% amid high demand.
- Its neutral RSI score indicates possible bullish momentum.
- A strong purchasing signal for PEPE/USDT suggests further price gains.
Despite PEPE being listed on BitMEX on May 3, bears controlled the early trading hours, driving prices down until support reached around $0.0000008471. After regaining market dominance, bulls drove the PEPE price to a 24-hour high of $0.000001423 before encountering resistance.
Despite the inability to break through resistance, bulls remained in control as of press time, prompting a 51.05% increase to $0.000001412.
During the recovery, the market capitalization of the PEPE increased to $540,012,436, and the 24-hour trading volume increased by 1.68% to $248,473,214. This increase in market capitalization and trading volume demonstrates the high demand for PEPEs and implies that investors are optimistic about the project’s future.
PEPE/USD 24-hour price chart (source: CoinMarketCap)
The PEPE/USDT price chart’s Relative Strength Index (RSI) score of 52.79 indicates that it is now in a neutral position, neither overbought nor oversold.
It is, however, trending higher, suggesting that possible bullish momentum is growing and increasing traders’ confidence in the short-term price movement of PEPE/USDT.
With a value of 0.72, the Fisher transform motion over its signal line provides a strong purchasing signal for PEPE/USDT. Traders may want to consider going long expecting additional price gains since this pattern indicates a buoyant market mood.
PEPE/USD chart (source: TradingView)
The upward Rate of Change movement with a rating of 25.47 indicates that the PEPE’s bullishness is gathering strength, suggesting a likely price rise.
If the bullish momentum breaks over the $0.000001423 resistance level, the next resistance level may be around $0.000001500, drawing additional buyers and driving the price higher.
With a Balance of Power of 0.36, bullish sentiment seems to be strengthening, suggesting a possible breakout might occur soon.
PEPE/USD chart (source: TradingView)
PEPE’s bullish momentum strengthens as demand and trading volume increase, signaling optimism for the project’s future.
Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.
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