Join Our Telegram channel to stay up to date on breaking news coverage
The Pepe price jumped more than 4% over the past 24 hours to trade at $0.000001176 as of 9:00 am EST as traders attempt to keep the meme coin’s positive momentum going.
Pepe’s 24-hour surge was enough to bring its weekly performance out of the red zone, bringing the cryptocurrency’s weekly gain to 1%. The latest gain was also a continuation of Pepe’s monthly performance, which stood at +64% as a result.
The Pepe Price Is Attempting A Breakout
Daily chart for the Pepe price (Source: TradingView)
The Pepe price printed a series of lower lows and lower highs over the past couple of days, leading to the formation of a negative price channel. Following a bounce off of the $0.0000010290 on Nov. 3, the meme coin’s price entered into a multi-day positive sequence, which resulted in the cryptocurrency breaking above the $0.0000011570 barrier earlier today. Since breaching this threshold, sellers have forced the Pepe price to back below this significant point.
Should the Pepe price close today’s daily candle above $0.0000011570, then it may have the foundation needed to continue to rise in the following few days. In this bullish scenario, the Pepe price would have escaped the negative price channel on its chart.
Traders may then identify Pepe surpassing the $0.0000011570 mark as a possible long trade entry as well. This could lead to the Pepe price looking to flip the $0.0000012840 resistance into support before potentially rising to as high as $0.0000014815 within the next week.
Pepe Price Remains at Risk Of A Further Downfall
The bullish thesis may be invalidated if the Pepe price fails to close today’s daily candle above $0.0000011570. In this more bearish scenario, the altcoin could continue to trade within the descending channel to possibly break below the $0.0000010290 support level. A breach of this noteworthy mark will then expose the meme coin to the risk of possibly falling to $0.0000008495 in the short term.
Technical indicators on Pepe’s daily chart showed that the Pepe price was at a decisive point. On one hand, the daily Moving Average Convergence Divergence (MACD) line crossed bearishly below the MACD Signal line. This suggested that Pepe’s negative trend may continue in the coming 24-48 hours.
While the MACD indicator suggested the continuation of Pepe’s bearish trend, the daily Relative Strength Index (RSI) indicator was on the verge of triggering a significant bullish technical flag. Bulls are growing stronger on Pepe’s chart, which was evident by the RSI line closing in on the RSI Simple Moving Average (SMA) line. If these two technical indicators cross in the next 24 hours, then it may lead to the Pepe price climbing in the following couple of days.
As investors and traders look to keep Pepe’s bullish momentum going, Meme Kombat is a promising project with 20X potential that is raking in all huge funds in its presale.
A Meme-Based Gaming Platform Taking The Crypto World By Storm
Meme Kombat is a meme-inspired gaming platform that is set to become the next best thing within the cryptocurrency market. By purchasing the project’s token, MK, holders can start betting on regularly scheduled battles set to take place within the Meme Kombat ecosystem. Through this betting, holders stand the chance to win very lucrative rewards.
Offering Investors Twofold Rewards
Meme Kombat is also currently offering a generous Annual Percentage Yield (APY) of up to 112% to anyone that purchases MK through its presale. Tokens purchased during this stage will automatically be staked, making anyone who purchases MK in this early stage eligible to benefit from the high APY on offer.
New price, who dis? pic.twitter.com/AOMuDcDaPM
— Meme Kombat (@Meme_Kombat) November 2, 2023
MK is selling at just $0.183 and the meme coin’s presale has recently surpassed the $1.2 million fundraising milestone. Given the continuously growing interest in the meme coin sector and its innovative gaming platform, Meme Kombat is ideally positioned to become the next best attraction within the meme coin sector.
Related Articles:
New Crypto Mining Platform – Bitcoin Minetrix
- Audited By Coinsult
- Decentralized, Secure Cloud Mining
- Earn Free Bitcoin Daily
- Native Token On Presale Now – BTCMTX
- Staking Rewards – Over 100% APY
Join Our Telegram channel to stay up to date on breaking news coverage
Credit: Source link
