After a recent global crypto market crash that saw Bitcoin price fall below $60,000, the crypto community is closely monitoring the performance of meme coins; PEPE and BONK. While investors may be uncertain on whether to sell or hold onto their investments, it is crucial to conduct a thorough analysis to help make a well-informed decision. Exploring the complexities of PEPE’s and BONK’s market dynamics, this article offers understanding of their possible price trends.
When considering whether to sell or HODL regarding PEPE versus BONK, it’s crucial to delve into the technical analysis and indicators guiding their market performance.
Looking at PEPE, its moving averages present a mixed picture. While the exponential and simple moving averages across various timeframes lean towards a buy signal, indicating potential upward momentum, the Ichimoku Base Line remains neutral. However, oscillators like the MACD Level suggest a buy, aligning with the moving averages’ bullish sentiment.Additionally, the Relative Strength Index (RSI) is neutral, reflecting a balanced market sentiment without significant overbought or oversold conditions. Considering Fibonacci support and resistance levels, PEPE appears to be hovering around pivotal points. Its price seems to have support at the Fibonacci level of $0.000006469811, while resistance is visible around $0.000008998569.
Considering these technical indicators, investors might lean towards a cautious HODL approach for both PEPE and BONK. While the moving averages and some oscillators suggest potential upward momentum, it’s essential to monitor how these cryptocurrencies respond to support and resistance levels, as well as any shifts in market sentiment indicated by oscillators like the RSI.