Pepe Coin Cost: The calm before the halving storm in Bitcoin‘s price is impacting PEPE and other significant coins. For the past four days, PEPE, the memecoin with a frog theme, has been bouncing back and forth without clear direction. Small candlesticks suggest that neither buyers nor sellers are taking charge. However, with the asset hovering near important support levels during this Bitcoin-halving period, there’s a good chance for a resurgence in price growth.
Pepe Coin Price Potential Reversal Amid Coinbase Listing
The price of Pepe Coin has been declining for more than a month, forming a series of new lows and highs in its daily chart. By connecting these lows and highs with trendlines, we can see a channel pattern emerging – a frequent technical occurrence that typically indicates a strong downtrend nearing an expected breakout.
Starting in mid-March, PEPE‘s price reached a peak of $0.00001084. Since then, it has decreased by 55%, and is now being traded at approximately $0.00000492. Despite this decline, PEPE remains one of the top 50 cryptocurrencies with a market capitalization of over $2 billion.
If the selling pressure continues, the PEPE coin might decrease by an additional 25% to reach the lower trendline of its channel pattern at $0.0000035. However, upcoming events like Bitcoin Halving and the launch of Coinbase Advanced’s 1000PEPE-PERP markets could significantly influence PEPE coin’s trading behavior.
We are adding support for PEPE perpetual future on Coinbase Advanced.
The opening of our 1000PEPE-PERP markets will begin on or after 9:30am UTC on 18 APR 2024.
— Coinbase Traders (@coinbasetraders) April 11, 2024
This growth could lead to a strong turnaround for PEPE‘s downtrend near its support line, initiating a fresh upward trend.
After making that observation, the purchasers are set to have more command over this asset once it surpasses its current channel pattern. Subsequent to this breakthrough, the Pepe value may spike up towards $0.00001084.
Technical Indicator
- Exponential Moving Average: The PEPE price trading below the 20-and-50-day EMA highlights the near-term trend is bearish. Moreover, a potential bearish crossover among these EMA slopes could accelerate selling momentum.
Moving Average Convergence Divergence: The MACD(blue) and Signal(orange) in a negative crossover state indicate a steady downtrend in the Pepe Coin.
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2024-04-17 22:00