Despite the current downturn in the cryptocurrency market, baby The coin has been one of the tokens that is still going strong as its price is still trading above the 100-day simple moving average (SMA) and trend line.
The token with a total liquidity value of over $38 million and a 24-hour trading volume of over $4.9 million once fell below the moving average, touched the trend line, and is currently trending above the moving average again.
At the time of writing, PEPE price is still trending above the 100-day simple moving average and trend line. The price is currently trading at $0.00000872, indicating a rise of approximately 3.57% over the past 24 hours.
Technical indicators reveal signs of continued upward movement for PEPE
4-hour Relative Strength Index: Looking at the Relative Strength Index (RSI) from the 4-hour time frame, it can be seen that the RSI line is trending above the 50 level. This shows that the price is still… rising at the moment. There is also a divergence between the price action and the Relative Strength Index line, as shown by the red lines in the image, which indicates a possible decline in the price in the future.
MACD 4-hours: Looking at the formation of the MACD indicator from the 4-hours time frame in the image above, we can also see that both the MACD line and the signal line are crossing above the zero MACD line indicating the continuation of the uptrend. On the other hand, the MACD histogram is already trending above the MACD zero line, indicating that the price of PEPE is still bullish.
4-Hour Alligator: A look at the Alligator indicator from the 4-hour time frame shows that PEPE price is trading above the Alligator's lines as the Alligator's lip and teeth are above the Alligator's jaw. It can also be observed that the price fell below the alligator line and then moved above the lines again, indicating that the price may continue to move in the upward direction.
Final note
Currently, PEPE price is moving towards the resistance level of $0.00000916, and if it can clear this level, it may move higher to retest its price. Highest level ever.
Conversely, if the price fails to break through this resistance level, it will start moving down towards the previous support level of $0.00000756. If it drops below the support level, it may move further towards the $0.00000591 support level.
Featured image from iStock, chart from Tradingview.com