What do you all think about the current situation of #pepe ? | Wolfstreetz on Binance Square

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What do you all think about the current situation of #pepe ? Will the market be bullish or bearish in the future…?

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Let's analyze the chart step by step to understand the current trend and make a decision on whether to hold or sell in my POV. #pepe *Do your own research..!!!! 1. **Price Movement**: - The price is currently at 0.00001453. - There has been a noticeable uptrend in the recent candles, indicating a recovery from the previous low of 0.00001313. 2. **Moving Averages**: - EMA (7): 0.00001437 (Yellow Line) - EMA (25): 0.00001408 (Pink Line) - EMA (99): 0.00001450 (Purple Line) - The shorter-term EMAs (7 and 25) are below the longer-term EMA (99), indicating a generally bearish trend. However, the current price has recently crossed above the 25 EMA, suggesting a short-term bullish momentum. 3. Volume : - 24h Volume (PEPE): 54.61T - 24h Volume (USDT): 773.94M - High volume can indicate strong interest and potential continuation of the current trend. 4. Indicators: Stochastic RSI: 98.69876490 (Yellow Line), 99.15543316 (Blue Line) - Both values are in the overbought zone (>80), suggesting a potential for a pullback. RSI 86.94815696 (6), 73.02179770 (12), 58.93029849 (24) - The RSI values also indicate overbought conditions, especially the 6-period RSI. MACD DIF: 0.00000015, DEA: 0.00000004, MACD: 0.00000011 - The MACD is positive, and the histogram shows increasing green bars, indicating bullish momentum. Conclusion: - **Current Trend**: - Short-term bullish momentum as seen in the price action and positive MACD. However, longer-term EMA (99) being above suggests a bearish overall trend. - **Indicators**: - Overbought conditions in both Stochastic RSI and RSI suggest caution, as a pullback may occur. Hold/Sell Decision - Given the current bullish momentum and high volume, holding could be beneficial in the short term if you're looking for higher gains. However, be aware of the overbought conditions indicating a potential pullback. - If you prefer minimizing risk, consider selling or partially taking profits due to the overbought signals and the overall bearish trend indicated by the longer-term EMA.

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#pepe In my POV **Analysis of the Chart:** 1. **Exponential Moving Averages (EMA)**: - The EMA(7) (yellow line) is below the EMA(25) (pink line), indicating a short-term bearish trend. If the EMA(7) crosses above the EMA(25), it could signal the beginning of a bullish trend. 2. **Stochastic RSI**: - The Stochastic RSI is at 100, indicating an overbought condition. This suggests that the price might decrease soon. 3. **MACD**: - The MACD histogram is green and indicates a bullish crossover. The MACD line (yellow) is close to the Signal line (purple), suggesting short-term bullish momentum. 4. **RSI**: - The RSI(6) is at 65.83, showing relatively strong momentum. - The RSI(12) and RSI(24) values are at 48.11 and 40.82, respectively, which are in the neutral zone but showing an upward trend. **Summary**: - The alignment of EMA(7) and EMA(25) indicates a short-term bearish trend. - The Stochastic RSI indicates an overbought condition, suggesting a potential downward correction. - The MACD shows a bullish crossover, indicating potential short-term price increase. - The RSI values are neutral but show upward momentum. If you are planning to make a trading decision, note that the indicators are giving mixed signals. On one hand, the MACD and RSI suggest bullish potential, while the Stochastic RSI's overbought condition suggests caution as a downward correction could be imminent. It might be wise to observe the market for a while to see if a clear trend forms before making a decision. Ensure you consider risk management in your trading strategy. * D Y O R

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So finally #Eth #ETFEthereum approved.. 🔥

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Until last week, the US SEC was not willing to engage with the issuers on the spot Ethereum ETF, however, it has suddenly taken a 180-degree turn this week. “It is a completely unprecedented situation, which means it’s entirely political. They’re not even internally coordinated yet, which is why this is most likely a political decision,” noted Sarah Wynn from The Block. Other sources also stated that with the U.S. Presidential elections approaching later this year, this could be politically motivated as well. The Biden reputation through the years has built its reputation for cracking down on the crypto market. On the other hand, former President Donald Trump has undertaken a pro-crypto stand and is willing to accept donations in crypto. “The problem is that the Democrats urgently need young voters to turn out for them. Biden’s campaign strategy is focused on presenting himself as a forward-looking octogenarian,” the source stated. The source added that President Joe Biden could gain an advantage if the SEC approves spot Ether ETFs. EVERYTHING HAS CHANGED. Democrats pushed back against Biden and Warren and voted for crypto. The FDIC chair that Warren was privately protecting and who orchestrated Chokepoint 2.0 is stepping down. The ETH ETFs are likely to be approved now as a result of the tide change.… — The Wolf Of All Streets (@scottmelker) May 21, 2024 #eth $ETH $PEPE

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Ethereum (ETH) and the broader cryptocurrency markets have rallied recently in the hope of the spot Ethereum ETF receiving approval this week. The Ethereum (ETH) price all the way past $3,800 registering more than 30% gains just in the last two days. However, everyone’s asking what led the US SEC to rush through the 19b-4 filings. There’s a talk going on that the decision to rush through the spot Ethereum ETF is more political rather than regulatory.

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