As a seasoned researcher with over a decade of experience in the ever-evolving world of cryptocurrencies, I find myself intrigued by CrediBULL Crypto’s latest analysis. His insights into the potential rally for PEPE are particularly fascinating, considering his uncanny ability to predict market movements accurately.
Crypto analyst CrediBULL Crypto provided a market analysis on Pepe (PEPE), Ethereum (ETH), and XRP. Based on his analysis, PEPE could hit a new high soon enough, seeing how it has ranged since hitting a new all-time high (ATH) in May.
A Price Rally For PEPE On The Horizon
CrediBULL Crypto mentioned in an X (formerly Twitter) post that PEPE has been holding up quite well despite the downtrend in the broader crypto market. As such, he added that he won’t be surprised if the meme coin witnesses another leg up to take some untapped liquidity before it moves along with the current bearish trend in the market.
The analyst mentioned that he hasn’t made a decision to buy into PEPE just yet, preferring to observe how events unfold first. According to the chart from CrediBULL Crypto, there’s potential for PEPE to reach $0.00001382 given the unrealized liquidity mentioned by the analyst.
According to CrediBULL Crypto’s analysis, the meme coin might fall as low as $0.00000570 if it experiences a significant drop. However, if Bitcoin and the broader cryptocurrency market recover, this bearish prediction could be negated.
What Next For Ethereum And XRP
According to CrediBULL Crypto, it’s likely that the price of Ethereum might fall below $2,800 in the near future. He made this forecast after closing his short positions, as he had expected a rebound that failed to materialize. Given the possibility of that rebound still happening at current levels, he doesn’t plan on opening any new short positions for Ethereum at present.
If the bounce in relief occurs for CrediBull Crypto, he plans to reinstate his short position. At the moment, the analyst remains optimistic about Ethereum’s future and is hoping for lower prices, as they would present another opportunity for him to buy more. Previously, CrediBull Crypto forecasted that Ethereum could reach $20,000 during this market cycle.
In summary, CrediBULL Crypto reiterated his prior stance on XRP, indicating no changes have occurred since then. He previously considered XRP to be in a holding pattern and wasn’t keen on trading it at the moment. However, he expressed interest in potentially trading XRP if its price falls to around $0.50 or potentially as low as $0.39.
CreditBULL Crypto predicted that XRP might plummet further, pointing out that the cryptocurrency token had already surged beyond its local peaks, an occurrence he anticipated before a correction back to the ‘green zone’, as marked on his charts.
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2024-08-04 12:11