PEPE

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/pepe-price-consolidates-in-a-range" data-wpel-link="internal">PEPE Price Consolidates in a Range</a><br></p>
<p style="text-align: justify">The frog-themed <a href="https://en.bitcoinhaber.net/bitcoin-breaks-71000-while-dogecoin-shows-potential-downturn-risk" data-wpel-link="internal">memecoin</a> project, Pepe, has been consolidating within a specific price range recently. Analysis of the daily chart reveals that PEPE has been trading within a horizontal channel since July 15. This pattern indicates a balance between buying and selling pressures, preventing a strong directional trend.</p> 
<h2 id="what-is-happening-with-pepe">What Is Happening with PEPE?</h2> 
<p style="text-align: justify">In this horizontal channel, the price encounters resistance at $0.000012 and finds support at $0.000011. On-chain <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener nofollow" data-wpel-link="exclude">data shows</a> a significant drop in demand for PEPE, with a 41% decrease in daily active addresses and a 43% decline in new addresses over the past week.</p> 
<p style="text-align: justify">Moreover, large PEPE holders, known as whales, have reduced their exposure, evident from the decrease in large transactions. Transactions exceeding $100,000 have dropped by 51% over the past seven days, reflecting cautious sentiment among significant <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank" data-wpel-link="exclude">investors</a>.</p> 
<h2 id="pepe-chart-analysis">PEPE Chart Analysis</h2> 
<p style="text-align: justify">PEPE could potentially break its $0.000012 resistance level if the market’s current bullish trend continues, as indicated by the SAR (Stop and Reverse) indicator. The SAR points below PEPE’s price suggest a likely upward movement, prompting investors to hold or buy the asset.</p> 
<p style="text-align: justify">If PEPE surpasses this resistance, its next target might be $0.000013. However, should the bulls fail to sustain the support level, the memecoin may drop to $0.0000098.</p> 
<h2 id="key-inferences-for-investors">Key Inferences for Investors</h2> 
<p style="text-align: justify"> – Monitor the $0.000012 resistance level for potential breakout opportunities.<br> – The SAR indicator signals a potential bullish trend.<br> – Be aware of the significant drop in large transactions, indicating reduced whale activity.<br> – Evaluate the support level at $0.000011 closely to anticipate possible declines. </p> 
<p style="text-align: justify">Overall, PEPE’s price movement within the horizontal channel reflects a delicate balance in the market. Investors should keep an eye on critical resistance and support levels to gauge future trends effectively.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/pepe-price-consolidates-in-a-range" data-wpel-link="internal">PEPE Price Consolidates in a Range</a></h5>

PEPE Price Consolidates in a Range

Table of Contents

BH NEWS

Other articles published on Jul 24, 2024

Bitcoin’s Explosive Rally Imminent? Key Indicator Flashes Rare Buy Signal

Daily Market Review: BTC, ETH, FLOW, ENA, POPCAT

Bitcoin Price Stalls at $66,500 While Altcoins Struggle

Peter Schiff Warns Bitcoin Can Easily Collapse To $3K

The US government transfers $4 million in seized Bitcoin to Coinbase

Blocksquare Launches Marketplace Pool for Hotel Investment (24 Jul)

Join our free newsletter for daily crypto updates!