$PEPE price slide, whales' big moves indicate that the market is about to reverse?
PEPE coin has fallen a bit recently, which makes the market a little panic. But the operations of those whales on PEPE make people feel that the market may have a big turn.
Now the network development of PEPE is a bit slow, and various data indicators are also reminding us that we have to open our eyes to see how the price will go next.
Especially those whales, who deposited 427 billion PEPE on the Kraken trading platform in the past 30 hours, which is 8.5 million US dollars in US dollars! This movement shocked the entire market.
These whales hold 1 trillion PEPE in their hands, which is not a small amount. They have made a lot of money from PEPE before. The latest one made 2 million US dollars, and a total of 11.7 million US dollars.
The current price of PEPE is 0.0000178 US dollars, which has fallen by 10.18% in 24 hours. Everyone is guessing whether the actions of these whales mean a rebound? Or is the resistance too great and it can't go up at all?
The price of PEPE is now at a critical moment. Whether it can stand firm at the price of $0.00001701 depends on whether the buyer's power is strong enough.
If it stands firm, it may be able to rush all the way to the high point of $0.00002196; if it doesn't stand firm, then you have to be careful of continuing to fall. So the power of buyers is critical, and you have to hold the price and don't let it fall again.
Although the network growth has slowed down recently, it doesn't mean it will continue to slow down. If the whales make some big moves again, it may drive the growth of the network and the market sentiment will also be high.
From the technical indicators, the parabolic SAR shows that the price is still rising and the momentum is good. On the directional movement index side, although the bears are still in control, they are not strong. If the buyers work harder, the bulls may be able to turn over and take charge.
Now the ratio of bullish and bearish is 65.07% to 34.93%. Bulls have the upper hand, which means everyone is still bullish. With the big moves of whales, it is not impossible for PEPE to break through the resistance level. But if the market sentiment changes and sellers have the upper hand, the rise may stop.
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