Pepe (Pepe) is traded over $ 0.000007 on Tuesday. Thus, the breast coin approaches the diminishing trend line. Crypto analyst Manish Chhetri ‘ According to a, oneIt is possible to rise in case of breakage. Moreover, Pepe’s Long-Short ratio and the rise positions between the traders have reached the highest level for more than a month. supports. Analyst, Pepe’s Double -digit gains He says he can see.
Pepe price is preparing for rise!
Pepe’s price faced a rejection around the descending trend line on March 27 and fell by 18.43 %until Sunday. This trend line coarses around $ 0.000008 with 50 -day EMA. This makes it an important resistance zone and a break in favor of the bulls. However, on Monday, at the beginning of this week, approximately 4 %recovered. During the article on Tuesday, the popular breast coin approaches the diminishing trend line.
Assuming that Pepe has risen over the diminishing trend line and closed above the 50 -day EMA, this price movement indicates the rise appearance. Such a development can allow Pepe’s rally to re -test the highest level of $ 0.00001 on February 14th from the $ 0.000008 level. This means a 25 %rally for Pepe.
Pepe/USDT daily graphicsIndicators also support the rise
The Relative Power Index (RSI) in the daily graph shows 47 to 50 with the neutral level. This shows that the decrease momentum is reduced. In order to maintain the ascension momentum, RSI needs to exceed the neutral level to support a recovery rally.
Another thesis that supports Pepe’s rise appearance is the Long-short ratio of Coings. The data for breast coin shows 1.01, the highest level of a month. This ratio on one reflects the tendency to rise in the markets due to the fact that more trader takes position to increase the breast coin price.
Pepe Long-shortoran graph. Source: coinglassIs the sale of whale an alarm?
However, Lookonchain data shows that a whale sells 3.03 billion pepe token worth $ 438 million on Monday and damages $ 434 thousand. So investors should be careful. This important sales can increase the downward pressure, potentially invalidate the thesis of rise, and trigger a price drop for Pepe.
