How are the crypto Pepe (PEPE), Kaspa (KAS), and Ethereum (ETH) performing? Below is an overview of current and future prices and the latest news featuring them.
Fluctuations in the price of Pepe: return to the all-time high or descent towards critical support?
When the price of Bitcoin fell below the crucial support level of $68,000, the meme coin sector experienced a significant contraction, with the main cryptocurrencies in this segment seeing a substantial loss of value.
Among the most affected tokens, PEPE has continued to show a marked bear trend, recording a correction in the last 24 hours.
With the bearish sentiment dominating the market, a question arises spontaneously: will the price of Pepe manage to retest its all-time high (ATH) or will it slip towards the critical support level of $0.00000880?
After a week of weak performance, Pepe managed to regain momentum, recording an impressive growth of 157.85% before encountering a pullback at the resistance level of $0.00001150.
The bulls managed to reclaim the support level of $0.00000880, which led to a doubling of the price over the next eight days, culminating in a new ATH of $0.00001718 on May 27.
However, after reaching this new all-time high, Pepe experienced a sharp bear reversal.
Since then, the price of the coin has been traded under strong selling pressure, indicating a negative influence for the meme coin in the cryptocurrency market.
If the price manages to stay above the support level of $0.00001150, the bulls could regain momentum, potentially pushing the price of PEPE to test the resistance level of $0.00001410.
Furthermore, if the bull manage to keep the price at that level, Pepe could be preparing to retest its previous ATH within the current month.
On the other hand, if the bear were to prevail, the price of Pepe could drop below the support level of $0.00001151 and head towards the critical support of $0.00000880 in the coming weeks.
Kaspa ready to reach the all-time high after overcoming the key resistance
The proof-of-work (PoW) cryptocurrency Kaspa seems ready to reclaim its all-time high of $0.18, after surpassing the long-term resistance level located at $0.14.
Between April 12 and June 2, the price of KAS oscillated within a range, forming a horizontal channel. The upper part of the channel acts as resistance, while the lower part represents support. KAS found resistance at $0.14 and support at $0.1.
Since the beginning of June, KAS has recorded a significant increase in trading volume. For example, on June 3, the daily trading volume of the altcoin reached 165 million dollars, the highest level since November 2023, according to data from Santiment.
This increase in trading activity pushed the price of KAS above the upper line of its horizontal channel on June 3, indicating a close above the resistance.
The analysis of price movements on a daily chart suggests that KAS could continue its bull trend.
The relative strength index (RSI) and the money flow index (MFI) of the altcoin were respectively at 79.91 and 70.44, confirming an increase in demand. These indicators show that the buying pressure on KAS has surpassed the selling pressure.
The price of the crypto Ethereum compared to PEPE and Kaspa
The recent data from CryptoQuant has highlighted a bear phase for Ethereum (ETH), with futures traders showing a strong selling bias.
The cryptocurrency community is closely watching these developments, especially as Ethereum struggles to stay above $3,500, adding further pressure to an already unstable market.
The data from CryptoQuant provides an insight into the current market conditions of Ethereum, suggesting a possible continuation of the negative trend. The analysis focuses on the “Taker Buy Sell Ratio,” a key indicator of market sentiment in the futures sector.
This metric measures the balance between buying and selling activities: a ratio above 1 indicates a predominance of buyers, reflecting greater buying pressure, while a value below 1 highlights aggressive selling.
Unfortunately for investors and Ethereum enthusiasts, this ratio has recently fallen below 1, indicating that sellers are outnumbering buyers.
This bearish trend is confirmed by the significant drop in the Taker Buy Sell Ratio, which has shown a clear shift towards the dominion of the sellers.
Aggressive sales could be driven by traders looking to capitalize on speculative gains or reduce risks in a context of high market volatility.
The persistence of this trend represents a worrying signal for the short-term prospects of Ethereum, which struggles to find stable support levels.
The cryptocurrency analyst Shayan BTC, who shared this update on the quick-take platform of CryptoQuant, observed:
“The significant drop in this metric is a bear signal, suggesting that the current downward retracement could continue if this trend persists.”
