PEPE/USDT: Key Levels in Focus
$PEPE
The #PEPEUSDT pair on Binance's 4-hour chart shows a bearish trend with the price trading around $0.00000763. The pair is below the 200-period moving average (MA), which is currently set at $0.00000881, indicating continued bearish pressure. The Volume Weighted Average Price (VWAP) is at $0.00000773, suggesting the price has been consolidating around this level.
The Relative Strength Index (RSI) stands at 35.77, reflecting a bearish momentum but not yet in the oversold territory, which indicates room for further downside. The Moving Average Convergence Divergence (MACD) histogram is below the zero line, with the MACD line crossing below the signal line, indicating that bearish momentum is gaining strength. This setup suggests that PEPE/USDT could continue its downward trajectory, potentially testing lower support zones.
Key Levels to Watch:
On the 4-hour published chart, the price action shows a breakdown from the recent consolidation range between $0.00000750 and $0.00000800. The breakdown was accompanied by increased trading volume, confirming the move's validity. The price is currently testing the support level around $0.00000750. A sustained break below this level could open the path for further declines toward $0.00000700 or lower.
Conversely, if the price holds this support level, there might be a chance for a bounce back toward the $0.00000800 resistance. However, a break above this immediate resistance would be required for any meaningful bullish reversal.
Disclaimer:
The information provided in this analysis is for educational purposes only and should not be considered financial advice. Cryptocurrency investments are volatile and carry a high risk. Always perform your own research before making any investment decisions.
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