PEPE’s 35% rise to $0.00000653 illustrates market optimism, raising questions about whether it will continue in April.
PEPE’s price rose 12.32% in 24 hours to $0.00000653, putting it in the top 50 cryptocurrencies with a market worth of $2.74 billion.
With its impressive rise and endurance in recent weeks, the PEPE cryptocurrency has captured the attention of both traders and investors due to its optimistic market structure.
PEPE’s price is presently trading at $0.00000653, crazy up 35% for the last week and a notable 12.32% increase over the last 24 hours, according to the most recent data from CoinMarketCap.
On impact, its market cap has increased to $2.74 billion, placing it among the top 50 biggest cryptocurrencies.
PEPE Trading Activity and Supply Dynamics
That increase comes after early March consolidation, during which PEPE prices steadied in a crucial demand region and prepared the way for the current upswing.
The price increase, which has also improved the market mood, suggests a maturing market environment. It also reflects a decline in supplier profitability and a slowing in trading activity.
The On-Balance Volume (OBV) indicator has been trending downward over the past month, but recent developments indicate a turnaround, with higher lows recorded over the last week. This little but important movement indicates that bulls are becoming more confident and suggests that the dynamics of the market may be changing.
Furthermore, there is an early indication of bullish momentum on the 12-hour chart as the Relative Strength Index (RSI) has risen above the neutral 50 mark. The price’s defense of the 61.8% Fibonacci retracement level at $0.00000481 last week is evidence of this, which gives investors more confidence.
Future Prospects and Resistance Levels
PEPE must overcome resistance, though, which is located in the historically difficult-to-break $0.000006–$0.000007 region. This location presents a substantial issue from a technical standpoint, as the liquidation heatmap illustrates.
If successfully navigated, the approaching sweep of liquidation levels around $0.0000065 could act as a trigger for additional price hikes.
Future possible resistance and support zones, particularly those around $0.000004 and $0.0000084, are also the focus of the market.
These levels stand in for important cutoff points that might control PEPE’s near-term price fluctuations. Traders are cautioned that another dip may occur if the current bearish structure is not broken soon.
On the other hand, according to a previous report, Coinbase International Exchange’s announcement that it will start offering PEPE perpetual futures trading on its platform has increased interest in and added to the attraction of this meme token.
This action by a significant exchange highlights the increasing acceptance and curiosity of meme tokens, which are still gaining traction in the digital asset market.
⚠️Disclaimer
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