DOGE price surge imminent? – analysis by Analytics Insight

Recently, over several weeks, DOGE has been bearish. Today, May 13th, DOGE currently trades at $0.1446, a 2.95% gain in the last 24 hours and a market cap of $20.9 billion. Impressively, DOGE's trading volume in the last 24 hours has also surged 50%, reaching $860 million.

The adoption of Dogecoin by Tesla, the renowned electric car company, has played a pivotal role in propelling the crypto into the mainstream. Elon Musk, the company's CEO and a vocal supporter of Dogecoin, announced that the company would allow consumers to pay for its merchandise using the meme-inspired crypto. 

The recent surge in Dogecoin's price has been fueled by the entry of whales and institutional investors into the market. In a striking example, a large trader removed a staggering $19 million worth of DOGE from the Robinhood trading platform, signaling a potential bullish trajectory for the cryptocurrency.

From a technical perspective, Dogecoin's recent price movements have painted an optimistic picture for the future. After finding support around the $0.12 level, DOGE has shown resilience in the face of bearish pressures, indicating a potential reversal in the market sentiment.

A bullish flag pattern on the daily chart broke down past its support to test heavier support at the $0.12500 zone down and created resistance at $0.16918. A breakout above the $0.16918 resistance level, combined with a close above it, could propel DOGE towards testing the recent high of $0.22888. However, if the bullish momentum doesn't build, the price may retrace to the $0.12500 level, providing an attractive entry point for investors.

Indicators such as the narrowing Bollinger Bands suggest a period of decreased volatility, while the Relative Strength Index (RSI) at 45 points shows the recent bearish activity and momentum.

#Memecoins #DOGE #BinanceLaunchpool #altcoins #notcoin

$DOGE

Reasons Why SHIB Posed To Hit $0.0001 In 2024 – CoinGape

As the crypto market struggles to find direction, leading meme coins like Shiba Inu and Dogecoin are getting attention from investors, seeking alternative strategies to avoid the ongoing Bitcoin doldrums.

Shiba Inu Coin increased by 4% to $0.00002341 on Monday backed by a modest 162% surge in the 24 hours trading volume to $475 million. A notable 5% increase in the market cap to $13.8 billion reinforces the new bullish grip.

The second-largest meme coin is on a path to becoming strongly bullish. This has been reflected by the rebound in the Relative Strength Index (RSI), holding at 54 and heading toward the overbought region.

SHIB’s bullish move was accentuated as bulls reclaimed support provided by the 20-day Exponential Moving Average (EMA) and the 50-day EMA.

Currently, traders are watching for Shiba Inu’s reaction to the immediate descending trend line resistance. A strong bullish outcome will be reinforced by a further step above the 200-day EMA.

There is a chance that bulls will have an easy time pushing for the anticipated breakout at least to $0.000028 by the end of the week and above $0.00003 before June.

Traders must be aware that Shiba Inu price might be forced to seek support and liquidity in lower regions, including the 50-day EMA, the 20-day EMA, and if push comes to shove at the red band support around $0.000021.

If selling pressure increases drastically there is a possibility that SHIB will retest $0.00002 before the chances of a larger rebound swell.

#altcoins #Memecoins #SHIB #buythedip #BinanceLaunchpool

$SHIB

Technical Indicators Favor Pepe as Investors Anticipate Gains – PEPE price analysis by Analytics Insight

Pepe (PEPE) has experienced a notable price surge, appreciating over 6% in the last 24 hours. This recent performance has brought the memecoin closer to its all-time high, suggesting a potential for further gains. 

Several technical indicators support the possibility of a sustained bull rally for PEPE. The Memecoin's Market Value to Realized Value (MVRV) ratio stands at 16.26%, indicating a potential undervaluation and room for growth. Whale activity has also been notably high, with significant accumulations observed over the past week. 

Large investors have been buying PEPE in bulk, signaling their expectation of a price surge. For instance, multiple addresses have collectively withdrawn hundreds of billions of PEPE tokens from major exchanges like Binance, suggesting a strategic move to hold rather than sell.

Despite the recent gains, PEPE's weighted sentiment has seen a slight decline, indicating mixed investor confidence. However, technical analysis paints a generally positive picture. The Moving Average Convergence Divergence (MACD) indicates a bullish advantage and the Relative Strength Index (RSI) is comfortably above the neutral line, suggesting ongoing buying pressure. Additionally, PEPE's price is well above its 20-day Simple Moving Average (SMA), reinforcing the potential for a continued upward trajectory.

Analyzing data from Hyblock Capital reveals that PEPE faces significant resistance around the $0.00000928 mark. A breakout above this level could pave the way for testing its previous all-time high. However, surpassing this resistance is crucial, as failing to do so may result in a price correction due to increased liquidations. Despite these potential hurdles, the overall market sentiment remains cautiously optimistic.

#pepe #altcoins #buythedip #BinanceLaunchpool

$PEPE

Bitcoin repeats ‘2016 history perfectly’ amid $350K price prediction — traders

(note: the post contains data by Cointelegraph)

Bitcoin is replicating the same path as it did after the 2016 Bitcoin halving event, with one indicator signaling it may be nearing its local bottom and another indicating it could reach $350,000 during “the peak” of this cycle, according to crypto traders.

“Bitcoin has repeated 2016 history perfectly, offering a downside wick below the bottom of its current re-accumulation range within a three-week window after the Halving,” pseudonymous crypto trader Rekt Capital declared in a May 11 post on X.

Rekt indicates that the reaccumulation range at this point of the cycle is any price below $61,081, which Bitcoin is currently trading below, at $60,901, according to CoinMarketCap data.

Furthermore, Rekt highlighted Bitcoin is currently in the “last pre-halving retrace” stage, which, once it passed in 2016, saw a 48% spike just six months later, on Dec. 30, to $973.

However, the price drawdown from the all-time high (ATH) chart — which measures the decline from Bitcoin’s peak to its lowest point over a specific time frame — suggests a much more ambitious price, according to the founder and investment manager at Cane Island Alternative Advisors Timothy Peterson.

Referencing the chart, Peterson estimates that Bitcoin’s current price may rise nearly sixfold by the beginning of 2025.

“Based on adoption and prior drawdowns, we can guesstimate that the peak value of this cycle would be between $175,000 - $350,000 in the next 9 months,” he explained in a May 11 post on X.

“Based on history, we can say that this bull market will end in January 2025,” Peterson added.

#ETFvsBTC #BTC #bitcoinhalving

$BTC

“Extreme Rally” Ahead for Crypto, Top Trader Claims 

(note: the post contains data by U.Today)

The cryptocurrency market might experience "an extreme rally" later this year, according to trader Henrik Zeberg

The sentiment is going to become "extremely bullish" closer to the blow-off-top of this cycle. Zeberg expects U.S. stocks to reach their peaks in the second half of 2024.  The analyst expects the recession to start in the last quarter of the year, which will prompt "a fast decline" in the markets. 

Tom Lee, head of research at Fundstart, recently predicted that inflation would see a dramatic decline in the second half of the year. He expects the leading cryptocurrency to surpass the $150,000 level in 2024. 

The upcoming consumer price index (CPI) report, which is set to be released on Wednesday, could be a major bullish catalyst for the cryptocurrency market if it shows a lower-than-expected reading. In April, stocks and cryptocurrencies experienced a rather sharp decline after US inflation turned out to be stickier than previously anticipated. This led to some speculation that the U.S. could be entering another period of "stagflation," with JPMorgan CEO Jamie Dimon comparing the current economic conditions to the 1970s. However, Federal Reserve Chair Jerome Powell swiftly shut down these concerns, which injected some optimism into the market. 

#BinanceLaunchpool #ETFvsBTC #BTC #BlackRock #MicroStrategy

$BTC $ETH

Pepe (PEPE) price prediction

(note: the post contains data by CoinEdition)

As of writing, the price of PEPE was $0.0000083. This value was a 4.90% increase in the last 24 hours. Within the same period, the trading volume increased by 25% and hit $765.90 million.

At the time of writing, volatility around PEPE had begun to increase. This was shown by the Bollinger Bands (BB). An increase in volatility might give way to a price increase. 
Furthermore, none of the bands tapped PEPE’s price, indicating that the token was neither overbought nor oversold. In a highly bullish case, the price of PEPE might extend to $0.0000087. However, if profit-taking takes place, PEPE might fall to $0.0000076.

On the daily timeframe, 50 EMA (blue) had crossed over the 200 EMA (yellow). This is termed a golden cross and it is a bullish signal. This crossover happened when PEPE was $0.0000011, indicating that the long-term outlook for the token is a bullish one.

Furthermore, this structure also implies that PEPE’s price might not slide below the $0.0000010 region in the long term. Thus, in 2024, PEPE is expected to surpass its all-time high, and a rally to $0.000017 could be the target.

If PEPE drops below this point, it could plunge to $0.0000067.On the other hand, a bounce before it reaches the resistance may pave the way for a jump to $0.000010.

#altcoins #Memecoins #BinanceLaunchpool #CryptoWatchMay2024 #pepe

$PEPE

Where is Render (RNDR) headed next? – prediction by CoinPedia

Render Protocol has received a great response from traders, propelling the price of its native token, RNDR, towards new highs. 

Recently, reports of whales accumulating Bitcoin have made huge rounds, which marked highs in the past couple of weeks. This appears to have kept the BTC price within a range bound for quite a long time. However, similar whale activity has been recorded with the Render Protocol, which is speculated to have had a major impact on the RNDR price. 

One of the popular on-chain analytical platforms, Lookonchain, has recorded some interesting whale activity, which suggests the uptrend could prevail for a long time. 

After undergoing a brief correction, the RNDR price is gearing up to surpass the current highs at $13.60. The bearish impact may soon wane as the lead spans A & B of the Ichimoku cloud are converging at a point, which may result in a bullish crossover. Besides, the RSI has been ranging high, regardless of the bearish impact that hindered the progress of the rally in between. 

Therefore, the Render Protocol (RNDR) price may reach the upper resistance zone between $13 and $13.65 after surpassing crucial levels at $11.95. This move may attract fresh liquidity, which may further assist the rally to form a new ATH above $15 initially and later test new highs.

#altcoins #CryptoWatchMay2024 #BinanceLaunchpool

$RNDR

Dogwifhat (WIF) Price Shoots 13% Amid Whale Accumulation, More Steam Left?

(note: the post contains data by CoinGape)

Dogwifhat (WIF), the fourth largest meme coin by market cap, is on a strong upward trajectory once again gaining over 12.97% in the last 24 hours. As of press time, the Dogwifhat (WIF) price is trading at $3.25 with a market cap of $3.240 billion, and is just short of overtaking PEPE Coin as the third-largest meme coin in the market.

According to insights from Lookonchain, a significant transaction occurred five hours ago, with a whale spending 4.2 million USDC to purchase 1.4 million WIF tokens at a price of $2.99. This particular whale has a history of early trading with WIF tokens and has accrued a total profit of over $8 million through these transactions.

Moreover, investors in the derivatives markets continue to inject more capital into WIF futures contracts for Dogwifhat, fueled by optimism that Solana’s coveted meme coin will resume its upward trajectory in the near future.

Investors are expecting the Dogwifhat (WIF) price rally to continue if the bulls strike further. Examining potential resistance areas, the upper band Bollinger indicator pinpoints the $3.40 territory as the upcoming significant hurdle. A definitive breakthrough from this resistance cluster could propel the WIF price above $4, as anticipated.

On the downside, $2.5 remains a major support as of now. Breaking this below can lead to bears taking the upper hand.

#altcoins #Memecoins #CryptoWatchMay2024 #BinanceLaunchpool #WIF🔥🔥

$WIF

Is BTC About to Crash Toward $56K or Will the Bulls Step in Soon? – Bitcoin analysis by CryptoPotato

Following a modest bullish rebound from the substantial $59K support level, Bitcoin encountered selling pressure, retracing back to the critical 100-day moving average at $61K.

Analysis of the 4-hour chart reveals heightened buying pressure near the critical $58K mark, resulting in a bullish surge toward the $66K threshold. However, increased selling pressure around $66K led to a noticeable downtrend, bringing the price back to the crucial $60K support region.

Presently, sellers are attempting to push the price below the significant $60K support level and the lower boundary of the wedge. If successful, it could signify a more sustained bearish phase, targeting the critical $56K support region.

However, considering the prevailing market sentiment, Bitcoin may continue consolidating or experience slight lower-level declines before gaining sufficient bullish momentum to initiate a fresh upward trend. Traders should closely monitor price movements around these key levels for potential shifts in market sentiment.

#BTC #bitcoinhalving #CryptoWatchMay2024

$BTC

Tellor (TRB): buy or sell? – price analysis by Finbold

Tellor is a $355 million Oracle network and a direct competitor to Chainlink (LINK) in relaying off-chain data to cryptocurrencies. Notably, LINK has a $8.5 billion market cap – which is 24 times higher than this trending cryptocurrency.

TRB trades at $141.72, with 198.6% gains from a local bottom of $42.73 reached on May 1. Following this surge, technical indicators show bullish momentum, which investors could see as both a buy and sell signal.

In particular, the daily relative strength index (RSI) shows a staggering 81.78 overbought status, which often signals trend reversals. Moreover, the token trades nearly two times above the 30-day exponential moving average (30-EMA), currently making support at $76.48 after a breakout on May 2.

Similar to the technical analysis, social indicators suggest a bullish momentum for Tellor, which could soon cause a trend reversal. On that note, Finbold gathered data from Santiment, showing TRB as the second-most trending cryptocurrency dominating the market’s social metrics.

Interestingly, as the price surged, social volume and social dominance reached monthly highs of 15 and 0.1%. This evidences the cryptocurrency trending momentum, but peaking social metrics for low-cap cryptocurrencies often signal local tops and reversals.

However, if the momentum continues, Tellor could see further growth, seeking higher capitalization as the protocol competes for demand and market share in a multi-billionaire market of Oracle solutions.

#CryptoWatchMay2024 #altcoins #Tellor

$TRB

Is Shiba Inu (SHIB) Preparing for a Take-Off? – analysis by CoinPedia

Memecoins have been performing well since the beginning of the month, regardless of the bearish pressure hovering over the crypto space. While most of them are thriving, Shiba Inu continues to remain under bearish pressure. However, this may not prevail for long, as the current trade setup suggests the price is gearing up for a fresh upswing. 

As the daily chart suggests, the SHIB price is trading within a descending parallel channel but appears to have found support at the ascending trend line. The bulls are trying hard to trigger a rebound but the price may break from the trend line for a while as the Ichimoko clouds continue to remain bearish. However, the Senkou Span B or Lead Span B line has triggered a bullish divergence, which suggests a strong bullish trend may soon begin and within a bullish crossover, the upswing will be validated. 

On the other hand, the DMI levels continue to converge without letting out any specific signals. Meanwhile, the ADX is close to the lower threshold, which suggests the strength of the rally could soon rise, which may compel a bullish crossover between +Di & -Di levels. This may eventually lift the Shiba Inu price above $0.000025, which may pave the way for the price to reach the crucial resistance zone between $0.00003078 and $0.0000276. If the bulls manage to defend these levels, the SHIB price may eventually mark a new ATH and may even eliminate a zero from its price in the latter part of the year. 

#SolanaMemeCoins #SHIB #altcoins #Memecoins

$SHIB

Dogwifhat (WIF) price analysis

Dogwifhat (WIF) currently trades at $2.92, with a 24-hour decline of 0.85% and a 7-day surge of 15.99% as of writing. Boasting a market cap of $2.9 billion and ranking 38th, WIF’s 24-hour trading volume stands at over $410 million, but a 28% drop in trading activity in the last 24 hours.

On the 4-hour chart, WIF appears to have formed a bullish pennant, breaking out on May 4th and is currently testing the descending trendline support as a retest. If this support holds, the token could rally to test the $3.54 right shoulder resistance once again. However, if the support fails, prices could plummet towards the ascending trendline or the neckline of the head-and-shoulder pattern at $1.9628.

The battle between bulls and bears continues on WIF. If the bulls can maintain the price above the critical $3.54 resistance level, they will gain a stronger foothold and drive further upward momentum. However, if the bears succeed in pushing the price below the $1.9628 neckline, it would signal their victory in this tug-of-war, potentially leading to fading gains and a bearish trend in the near future.

#SolanaMemeCoins #altcoins #Memecoins #WIF🔥🔥

$WIF

Traders rush to short Ether as Grayscale pulls its futures ETF plan – perspective by CoinTelegraph

Ether traders have stacked up their short positions over the last 24 hours, just as Grayscale Investments pulled its application for an Ethereum futures exchange-traded fund (ETF).

Ether is hovering close to a key support level at $3,010, having dropped by 1.85% over the past 24 hours, according to CoinMarketCap data. 

However, liquidation maps show traders have more conviction that the price is going down in the near term — with $345 million in short positions set to liquidate if the price goes up by 3%. 

On the other hand, a 3% drop to $2,920 would only wipe $237 million in long positions.

It comes after Grayscale’s May 7 decision to withdraw its Ether futures ETF application, just three weeks before the United States Securities and Exchange Commission (SEC) was set to decide on it.

It also comes amid speculation on whether Ether could be classified as a security and the fate of spot Ether ETF applications later in May. 

Despite optimism earlier in the year, analysts are becoming increasingly doubtful about the chances of the SEC approving a spot Ether ETF as the next May 23 deadline approaches.

#ETHETFS #altcoins #CryptoWatchMay2024 #Ethereum

$ETH

PEPE faces resistance hurdles: will it show a significant recovery?

(note: the post contains data by Analytics Insight)

PEPE, the popular meme-inspired crypto asset, is making waves in the crypto market amidst a surge in price and significant whale activity. According to the latest data, the coin's value has risen by over 19% over the last 7 days, showcasing the bull momentum in the recent few days currently driving the market. However, the price has found a resistance zone and the bullish outlook is losing steam.

Recently, data revealed two massive Pepe trades worth approximately $21 million. These transactions, typically associated with wealthy investors or "whales," have the potential to influence market prices due to their size.

The weekly chart for Pepe reveals a sustained bullish trend, with the price marking higher lows and breaking upward through resistance levels. Over the past three consecutive weeks, the asset has exhibited consistent bullish pressure, signaling a strong upward trajectory.

On the daily chart, Pepe recently broke out of a descending channel or bullish flag pattern on April 22nd, closing above the main monthly bullish flag. This breakout was further reinforced by the formation and subsequent breakout from a mini bullish flag pattern that lasted several days, confirming the continuation of the uptrend.

Two days ago, the price surged to hit the resistance zone target at $0.00000918 before experiencing a rejection. However, analysis suggests that a retracement is likely before the upward momentum resumes, with the recent high of $0.00001081 serving as the immediate near-term target if the $0.00000918 resistance level is breached.

If a breakout occurs above the $0.00000918 resistance level, the price is expected to rally toward the next target of $0.000001081.

#altcoins #Memecoins #CryptoWatchMay2024 #pepe

$PEPE

Is This The Only Chance To Buy Bitcoin At $62,000 Before $100,000? – BTC analysis by CoinGape

Despite fighting to recover from the post-halving correction to $56,500, Bitcoin (BTC) is heavily weighed down, holding firmly to support at $62,000 on Wednesday.

The weekend momentum spilled into this week but later waned as BTC approached $65,000 on Monday.
With the trading volume staying unchanged in the last 24 hours at $25 billion, Bitcoin may continue to hold steady to the end of the week.

The uncertainty witnessed in the crypto market has been mirrored by Bitcoin ETFs, whose impact drove the largest crypto to a new all-time high in March.

According to recent data shared by SoSoValue, the outflow volume as of May 7 was $15.64 million. The cumulative total net inflow has since declined to $1.78 billion while total net assets drop to $52.51 billion.

Although Bitcoin price is relatively bearish, it seats on robust support at $62,000. Moreover, the successful retest of the descending channel upper boundary support/resistance is a bullish signal—which might encourage traders to buy BTC for gains to $64,000 in the short term.

Another potential buy signal will come from the Moving Average Convergence Divergence (MACD) which holds at -27. The signal to buy would manifest as the blue MACD line crosses above the red signal line.

Some key milestones to look out for are the surge above all three moving averages, including the 20-day Exponential Moving Average (EMA), the 50-day EMA, and the 200-day EMA (the blue, red, and purple lines on the chart). Trading above all these key levels could mean that Bitcoin price has finally flipped bullish and is ready to close the gap to $70,000.

#BTC #bitcoinhalving #bitcoin #buythedip #CryptoWatchMay2024

$BTC

Solana Price Soars 5% Despite $380M SOL Transfer To Coinbase, What’s Next? – analysis by CoinGape

The Solana price has rallied nearly 5% today, despite a series of massive whale transfers to the Coinbase exchange today. Notably, this move has sparked speculations over the potential impact of the transfers on the Solana price. 

Meanwhile, the SOL price has maintained a positive momentum today, despite a retreat in other major crypto prices like Bitcoin, Ethereum, and others.

The influx of such substantial amounts of Solana into Coinbase has raised eyebrows, prompting questions about the motives behind these transactions and their implications for the broader market. With Solana gaining traction as a popular blockchain platform known for its high throughput, any significant movements in SOL holdings tend to attract attention and fuel market speculation.

While it’s unclear whether these transactions represent a strategic move by institutional players or individual investors capitalizing on Solana’s recent price fluctuations, they undoubtedly underscore the growing interest in this altcoin. As investors closely monitor these developments, the cryptocurrency community eagerly anticipates how these large-scale transfers will influence Solana’s price dynamics in the coming days.

However, it’s worth noting that despite the massive transfers, the Solana price has maintained an upward momentum today. As of writing, the Solana price was up 4.55% and traded at $155.30, while its trading volume soared 79.72% to $3.14 billion.

According to CoinGlass data, the Solana Futures Open Interest soared 1.66% from yesterday to $1.98 billion, indicating a positive momentum in the broader market.

#altcoins #CryptoWatchMay2024 #sol #Solana

$SOL

Tellor (TRB) Market Cap Soars Over 70% – What’s Driving the Growth?

(note: the post contains data by BeInCrypto)

In May, Tellor (TRB), a decentralized oracle network, significantly outperformed expectations, doubling its market capitalization early in the month. As of April 30, TRB’s market value was $143.32 million. By the morning of May 7, in Asia market hours, this figure had surged to an impressive $247.81 million.

This substantial growth aligns with a noted increase in crypto whale activity. Furthermore, it suggests a wave of profit-taking may influence the market dynamics.

Data from the blockchain analytics platform Santiment revealed a spike in crypto whales’ transactions and active addresses involving TRB. Specifically, on May 6, there were 212 daily active addresses, and whale transactions exceeded $100,000, totaling 16.

This starkly contrasts with May 1, which saw only 131 active addresses and no significant crypto whale transactions. However, this activity indicates a growing investor interest and potential for profit-taking from TRB.

As of the latest updates, Tellor trades at $95.78, marking a 4.7% increase in the last 24 hours. Over the past seven days, however, the cumulative price increase has exceeded 70%, reflecting a strong upward trend that could potentially continue as predicted by market experts.

#Memecoins #CryptoWatchMay2024 #Tellor

$TRB

Will Ethereum recover this cycle? – perspective by CoinGape

While Ethereum (ETH) remains a central player, it faces mounting challenges in its quest for widespread adoption. Moreover, a recent report by 10x Research suggests that Ethereum is the “basket case” in this bull run. This has raised concerns about the ETH price’s future trajectory as it lost hold on a crucial level lately.

The 10x Research report noted that despite Ethereum’s pivotal role in facilitating DApps and the NFT market, its weak fundamentals have become a cause for concern. It negatively affects Bitcoin’s trajectory due to the correlation between these crypto behemoths. In addition, the poor fundamentals also bring doom to the Ethereum ecosystem.

During the previous cycle, Ethereum was positioned as a revolutionary force set to supplant traditional banking systems. However, its failure to swiftly address scalability issues and adapt to changing market dynamics has left it trailing behind. Whilst, Bitcoin has now assumed the mantle of digital gold, leaving ETH behind.

Meanwhile, the correlation between Bitcoin and Ethereum remains strikingly high, with an R-square of 95%. This underscores the interconnectedness of the two largest cryptocurrencies. Hence, Ethereum’s struggles are proving to be a “roadblock” for Bitcoin, hindering broader fiat inflows into the crypto ecosystem.

Analysts warn of further downside for Ethereum, with price predictions suggesting a further dip. As the ETH price extended below $3,132.80, the impending decline became evident. The breach of this critical support level signals a continuation of the bearish trend, with the next target set at $2,905.30.

#eth‬ #altcoins #buythedip

$ETH

Pepe price analysis: will PEPE hit $0.00001 in the coming week?

(note: the post contains data by CoinGape)

Amid the ongoing market rebound, the Pepe Coin experienced a notable recovery this week, escalating from $0.00000592 to its current trading price of $0.00000842. This 42% upswing in the daily chart revealed the formation of an inverted head and shoulder pattern. This bullish reversal setup commonly observed in the market’s local bottom indicates a shift in market dynamic from selling on rallies to buying on dips.

PEPE entered its current recovery trend in mid-April as its price rebounded from a $0.00000393 low. The bullish turnaround propelled the asset 128% within a month to a high of $0.00000893.

On May 4th, the coin buyers gave a decisive breakout from the $0.000008 neckline resistance of inverted head and shoulder pattern. If the chart pattern holds true, the PEPE price should surpass the last swing resistance of $0.0000108 to hit a potential target of $0.000012.

#altcoins #Memecoins #buythedip #PEPE❤️

$PEPE

Bitcoin is as strong as ever – price analysis by CoinTelegraph

The Bitcoin 200-day moving average is at an all-time high of $50,178, a key technical indicator for predicting long-term Bitcoin price trends suggesting a bullish long-term outlook.

The indicator hit its peak on May 6, according to BuyBitcoinWorldwide. It comes as Bitcoin BTC recovers from a post-halving price dip that saw it drop as low as $56,800 after the network’s block rewards were halved to 3.125 BTC on April 20.

The 200-day simple moving average (SMA) sums the last 200 days of Bitcoin’s closing price and divides it by 200 to iron out short-term price fluctuations, aiming to show traders and analysts a long-term trend indicator.

When BTC prices are trading above this indicator — as it is now — it typically suggests that the long-term trend is bullish, whereas the opposite is the case when prices drop below the 200-day moving average.

According to analyst Willy Woo’s WooCharts price models, the 200-week moving average, a much longer-term trend indicator, is also at an all-time high of just over $34,000, meaning that the yearly trend outlook is even more bullish.

The price of Bitcoin crossed the 200-week moving average level in mid-October and has been above it ever since. Spot prices are also significantly higher than the realized price (RP) indicator, which is around $29,000.

#BTC #bitcoinhalving #CryptoWatchMay2024

$BTC