Pepe (PEPEUSD) is trying to recover - Analysis - 12-24-2024
The price of Pepe (PEPEUSD) has advanced during its recent trading at the moment levels, due to the stability of the pivotal support level of $0.000017223, which gained it some positive momentum, especially with the beginning of the emergence of positive signals in the relative strength indicators, after reaching areas of severe saturation with selling operations, and in light of the dominance of the main upward trend in the short term and its trading along the trend line, so that the price tries with this rise to get rid of the negative pressure of the previous 50-day simple moving average, to announce its full recovery after that.
Therefore, our expectations suggest that the price of the currency will rise during its upcoming trading, but with an important condition, which is the stability of the previously mentioned support level of $0.000017223, to target the pivotal resistance level of $0.000028362.
Expected trend for upcoming trades: Likely to rise
