Pepe (PEPE/USD) Experiences Strong Trend Reversal
Estimated Reading Time: 2 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
PEPE/USD Price Analysis: PEPE/USD Breaks Above Trend Line With Momentum
PEPE/USD broke above the trend line with a momentum candle at the price level $0.00000480, signaling the entry of institutions. This marks the end of bears’ domination that lasted from August to January and the beginning of an uptrend. The strong candle that broke trendline on January shows that buyers are confident and ready to push price higher. It also shows that sellers are weak and cannot control the market. The trend looks strong and may continue upward for a long time
PEPE/USD Key Levels
Support Levels: $0.00000390, $0.00000380
Resistance Levels: $0.00000930, $0.00000070
The daily timeframe shows a double bottom followed by a liquidity grab at the price level $0.00000390. This happened at the support of the trend line, making the liquidity sweep more valid. It shows the footprint of institutions willing to push price higher. That liquidity sweep is an early sign that the trend may shift upward because whales just entered the market
On the daily timeframe, the Moving Average Cross (MA Cross) at the price $0.00000420 favors the beginning of an uptrend. The 9 MA crossing above the 21 MA in January adds early bullish trend confirmation
Market Expectation
The 4hr timeframe shows the market respecting the Point of Interest (POI) at the price level $0.00000580 and reversing from there. This confirms the market is still in an uptrend. The Relative Strength Index (RSI) is far from the overbought zone, showing there is still room for the market to continue higher.
You can purchase Lucky Block here. Buy LBLOCK
Note: Cryptosignals.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result.
