The cryptocurrency market is full of potential for massive growth, and everyone is on the lookout for the next big success story. As the 2024 bull run gains new enthusiasm, some of the lesser-known cryptocurrencies priced at pennies could deliver impressive returns.
Pepe has momentum but faces headwinds
PEPE's recent price has fluctuated in a tight range of $0.00000497 to $0.00000660. Over the past week, the coin has surged 45.32% in value. Looking at the broader picture, monthly performance is down 8.24%, but the 6-month overview shows an impressive gain of 540.17%. Currently, PEPE's trend suggests that it is in a correction phase, rather than an impulsive uptrend, reacting to past gains.
Looking ahead, PEPE faces immediate resistance at $0.00000723, a successful breakout could push towards the second resistance around $0.00000885. Support levels worth watching are $0.00000397 and $0.00000234. The coin’s indicators are giving mixed signals, with an RSI below 50 suggesting a lack of strong momentum, while low stochastics suggest caution. Despite the compelling long-term growth, the mixed signals suggest a balanced view of the coin’s potential trajectory.
Unexpected volatility in DOGE market
DOGE has experienced ups and downs. Over the past week, the price has fallen slightly by about 1.1%. Looking back at the month, the decline is more than 17.5%. However, looking at the six months, the increase is strong, close to 119%. The value of the coin now fluctuates between $0.1419 and $0.1723. Judging from the indicators, DOGE appears to be in a state of balance and is not obviously in an impulsive or corrective phase.
The future price of Dogecoin is difficult to determine. On the bright side, the sharp rise in the past six months shows growth potential. However, investors should be careful as the recent decline shows that the coin can be difficult to predict. It is also trading below the 100-day moving average, indicating caution. Predicting its direction is tricky with support at $0.1253 and further down at $0.0949 while resistance is at $0.1861 and again at $0.2165.
Pyth’s fall and rise: price action analysis
PYTH is currently trading between $0.57 and $0.72. The price fell 3.60% last week and is down 37.75% from the previous month. However, looking back over the past six months, PYTH has risen 54.03%. The recent price action shows a downward trend, suggesting that this is a correction phase rather than an impulse phase.
As for the future of PYTH, the price may grow but faces obstacles. The nearest resistance is $0.79, which it has a challenge to overcome. On the downside, a break below $0.48 may find support at $0.33. The mixed signals from the RSI and MACD suggest that the future path may go in either direction, so a cautious but optimistic outlook on the Pyth Network price trajectory is needed.
(Personal opinion, not a recommendation)
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