- Pepe’s price surged 13.61% to 0.000009274 as trading volume noted a 46.45% uptick.
- RSI and MACD indicate a bullish trend, but overbought conditions may lead to a pullback.
Pepe (PEPE) has recorded a parabolic uptick that started a week ago. Market data indicates that Pepe’s price surged 13.61% in the past 24 hours, with a significant increase in trading volume. Additionally, the RSI and MACD indicators show bullish momentum, indicating the price may continue to rise.
PEPE Technical Analysis: RSI and MACD Indicators
Through Pepe’s analysis using TradingView, the token RSI has reached 64.48, and nears the overbought level. The value of 60 to 70 is usually a sign of a bullish momentum, which anticipates that the price will continue rising unless a correction is performed.
The RSI is currently above its 14-day average of 58.11, showing that the buying pressure is dominant in the market. On the other hand, if the RSI crosses the 70 level, it may signal overbought conditions and a short-term correction may occur.
The MACD indicator also notes an upward movement, which is a good sign. The MACD line reads at 0.00000027, which is above the signal line of 0.00000023, observing a bullish signal for the price to remain on the rise.
Furthermore, the histogram is showing an increasing number of green bars confirming the bulls presence. The MACD’s positive divergence notes that the token’s price is likely to stay above its current levels, with a potential move toward the resistance.
Current Market Performance Revealed
Pepe’s price has risen 13.61% in the past 24 hours, reaching $0.000009274. This is coupled with a massive volume increase of 46.45%, thereby rising to $760.3 million. The token’s market cap is at $3.9 billion, which is a 13.61 % increase as well. Pepe’s fully diluted valuation (FDV) is a duplicate of the market cap at $3.9 billion.
Pepe’s technical indicators suggest a strong bullish trend, supported by the RSI and MACD readings. The token’s price continues to gain momentum, with a notable increase in trading volume. If the RSI exceeds 70, a potential short-term pullback could occur.
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