$PEPE has shown remarkable resilience, breaking through key resistance levels and attracting significant whale interest. The chart reveals a strong bounce from the 50-day simple moving average (SMA) at $0.00001, indicating bullish momentum.
Key Observations:
Price Action: PEPE is currently trading at $0.0000104, up 4.1% in the last 24 hours. The bounce off the 50-day SMA suggests bulls are establishing a higher low.
Moving Averages: The price is above the 20-day exponential moving average (EMA) at $0.00000992, a bullish signal if maintained.
Whale Activity: Large transactions (over $100,000) have totaled approximately $85 million, with the count jumping from 69 to 346 transactions recently. This increased whale interest often precedes significant price movements.
Liquidations: Over $4.2 million in total liquidations, with $2.6 million from bearish positions, indicating a shift in market sentiment.
RSI: The 4-hour chart shows a positive Relative Strength Index, suggesting momentum favors the bulls.
Price Predictions:
Short-term: If buyers maintain the price above the 20-day EMA, we could see a push towards $0.000012. Breaking this level could extend the rally to $0.000015.
Bullish Scenario: Continued whale accumulation and a break above $0.000012 could trigger a 50% surge, potentially reaching $0.000015-$0.000017.
Bearish Scenario: A drop below the 50-day SMA could lead to a fall to $0.000009, with further support at $0.000006.
Caution: While whale activity is bullish, a slight dip in PEPE's Mean Coin Age suggests some long-term holders may be preparing to sell. This could potentially hinder the upward momentum if it turns into a broader trend.
In conclusion, PEPE's technical indicators and whale activity point towards a potentially significant upside. However, investors should remain vigilant of the broader market conditions and potential selling pressure from long-term holders. #PepeCoinToTheMoon #pepeâĄ
