{"id":632829,"date":"2024-08-02T14:00:27","date_gmt":"2024-08-02T14:00:27","guid":{"rendered":"https:\/\/ktsl888.com\/?p=632829"},"modified":"2024-08-02T11:46:35","modified_gmt":"2024-08-02T11:46:35","slug":"pepe-bullish-trend-line-under-threat-0-00000766-level-on-sight","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/pepe\/pepe-bullish-trend-line-under-threat-0-00000766-level-on-sight\/","title":{"rendered":"PEPE Bullish Trend Line Under Threat: $0.00000766 Level On Sight?"},"content":{"rendered":"

PEPE<\/span><\/a>, one of the top meme coins in the crypto space, is currently at a crucial point as it approaches its long-standing bullish trend line. As the price draws near the bullish trend line, a break below it could signal a major shift in market sentiment, triggering a price draw down to the $0.00000766 mark.<\/span><\/p>\n

This article provides an in-depth analysis of the current price action, focusing on the bullish trend line. It examines whether a potential break below this line could drive the price to the critical support level at $0.00000766 or if a potential reversal is on the horizon.\u00a0<\/span><\/p>\n

As of the time of writing, PEPE’s price has dropped by 5.10%, trading at approximately $0.00001005 in the past 24 hours. PEPE boasts a <\/span>market capitalization<\/span><\/a> exceeding $4.2 billion and a trading volume surpassing $821 million. The asset\u2019s market cap has decreased by 5.32%, while its trading volume has increased by 35.01% in the past 24 hours.<\/span><\/p>\n

Technical Analysis: Current Market Sentiment For PEPE<\/strong><\/h2>\n

On the 4-hour chart, PEPE has demonstrated significant bearish <\/span>momentum<\/span><\/a>, with the price dropping below the 100-day Simple Moving Average (SMA) and the $0.00001152 support mark, signaling a potential bearish move toward the bullish trend line. A successful breach below this trend line could signal the start of a bearish trend for the cryptocurrency, potentially driving the price down to the next key support level at $0.00000766.<\/span><\/p>\n

\"PEPE\"
Source: PEPEUSDT on Tradingview.com<\/figcaption><\/figure>\n

Additionally, on the 4-hour chart, the Relative Strength Index (RSI) signal line has dropped below 50% and is approaching 30%, which is considered the oversold zone. This movement indicates increasing bearish momentum and suggests that selling pressure is intensifying.<\/span><\/p>\n

Technical analysis on the 1-day chart reveals that, following the rejection at $0.00001313, PEPE has been on a bearish trajectory toward the <\/span>bullish<\/span><\/a> trend line, marked by the formation of multiple bearish candlesticks. Furthermore, the crypto asset’s price is trading below the 100-day SMA, suggesting a bearish market sentiment.<\/span><\/p>\n

\"PEPE\"
Source: PEPEUSDT on Tradingview.com<\/figcaption><\/figure>\n

The signal line of the 1-day RSI indicator has recently dropped below 50% and is moving toward the oversold zone, suggesting that the digital asset may continue its bearish trajectory below the 100-day SMA toward the bullish trend line.<\/span><\/p>\n

Navigating Potential Breakdowns And Bounces At The Trend Line<\/strong><\/h2>\n

PEPE is currently on a bearish path while approaching its long-standing bullish trend line. A successful break below this trend line could indicate the beginning of a bearish trend, potentially driving the asset toward the $0.00000766 support level and beyond.<\/span><\/p>\n

However, if PEPE <\/span>bounces back<\/span><\/a> at the bullish trend line, it could retrace towards its previous high of $0.00001152. Should the crypto asset break above this level, it could signal a further upward movement, possibly targeting the $0.00001313 resistance range and other higher levels.<\/span><\/p>\n

\"PEPE\"
PEPE trading at $0.0000102 on the 1D chart | Source: PEPEUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

PEPE, one of the top meme coins in the crypto space, is currently at a crucial point as it approaches its long-standing bullish trend line. As the price draws near the bullish trend line, a break below it could signal a major shift in market sentiment, triggering a price draw down to the $0.00000766 mark. This article provides an in-depth analysis of the current price action, focusing on the bullish trend line. It examines whether a potential break below this line could drive the price to the critical support level at $0.00000766 or if a potential reversal is on the horizon.\u00a0 As of the time of writing, PEPE’s price has dropped by 5.10%, trading at approximately $0.00001005 in the past 24 hours. PEPE boasts a market capitalization exceeding $4.2 billion and a trading volume surpassing $821 million. The asset\u2019s market cap has decreased by 5.32%, while its trading volume has increased by 35.01% in the past 24 hours. Technical Analysis: Current Market Sentiment For PEPE On the 4-hour chart, PEPE has demonstrated significant bearish momentum, with the price dropping below the 100-day Simple Moving Average (SMA) and the $0.00001152 support mark, signaling a potential bearish move toward the bullish trend line. A successful breach below this trend line could signal the start of a bearish trend for the cryptocurrency, potentially driving the price down to the next key support level at $0.00000766. Additionally, on the 4-hour chart, the Relative Strength Index (RSI) signal line has dropped below 50% and is approaching 30%, which is considered the oversold zone. This movement indicates increasing bearish momentum and suggests that selling pressure is intensifying. Technical analysis on the 1-day chart reveals that, following the rejection at $0.00001313, PEPE has been on a bearish trajectory toward the bullish trend line, marked by the formation of multiple bearish candlesticks. Furthermore, the crypto asset’s price is trading below the 100-day SMA, suggesting a bearish market sentiment. The signal line of the 1-day RSI indicator has recently dropped below 50% and is moving toward the oversold zone, suggesting that the digital asset may continue its bearish trajectory below the 100-day SMA toward the bullish trend line. Navigating Potential Breakdowns And Bounces At The Trend Line PEPE is currently on a bearish path while approaching its long-standing bullish trend line. A successful break below this trend line could indicate the beginning of a bearish trend, potentially driving the asset toward the $0.00000766 support level and beyond. However, if PEPE bounces back at the bullish trend line, it could retrace towards its previous high of $0.00001152. Should the crypto asset break above this level, it could signal a further upward movement, possibly targeting the $0.00001313 resistance range and other higher levels. Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":632830,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88189],"tags":[88145,88190,88188,16393,14763,91599,85676],"class_list":["post-632829","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pepe","tag-pepe","tag-pepeusd","tag-pepeusdt","tag-relative-strength-index","tag-rsi","tag-simple-moving-average","tag-sma"],"acf":[],"yoast_head":"\nPEPE Bullish Trend Line Under Threat: $0.00000766 Level On Sight?<\/title>\n<meta name=\"description\" content=\"PEPE, one of the top meme coins in the crypto space, is currently at a crucial point as it approaches its long-standing bullish trend line.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. 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