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HomeNewsPEPE's Rollercoaster: Expert Breakdown on Why It's the Crypto to Watch!

PEPE’s Rollercoaster: Expert Breakdown on Why It’s the Crypto to Watch!

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  • In-depth research by Shiller identifies critical technical levels for PEPE, pointing to both possible dangers and large growth prospects.
  • Historical data reveals that meme token investors frequently continue to make money despite recent price swings, suggesting a positive attitude among investors.

PEPE coin has succeeded in grabbing the interest of analysts and investors alike once more. Popular crypto analyst Cold Blooded Shiller has posted a thorough technical analysis of the PEPE/USDT pair on Binance, highlighting both substantial potential and concerns in the current market.

A More in-depth Analysis of PEPEĀ 

In his tweet, Shiller outlined both bullish and pessimistic outlooks for PEPE as it nears a pivotal point in its price chart. He discovered a significant support-turned-resistance zone between $0.0000063 and $0.0000062 after studying the currency over a four-hour period.

In addition to indicating a change in market dynamics, this move from resistance to support also suggests a fundamental shift in investor attitude regarding PEPE.

pepe
Source: Cold Blooded Shiller on X

PEPE’s price has somewhat decreased, according to data from CMC, falling by 1.50% in the last day and by a negligible 0.37% in the previous week. These swings coincide with PEPE approaching a critical resistance indicated by a declining trend line, as indicated by Shiller’s analysis.

Technical Analysis: Important Levels and Possible Breakouts

Shiller highlights the possibility of a “fakeout,” in which PEPE briefly breaks above this trend line before reversing course and possibly declining into the established support zone around $0.0047423.

But if this support holds, it might act as a springboard for the currency, increasing its value by 47.47% and aiming for an upper price goal of $0.000011.

Furthermore, according to the Relative Strength Index (RSI), PEPE is presently in a neutral zone and could move significantly either upward or lower.

Shiller highlights the combination of possible risks and significant rewards in his recommendation for investors to consider investing in PEPE if indications of a strong breakout are seen.

Also, PEPE was trading just below the 200-EMA at the time of publication, a pivotal point that may determine the course of the market going forward.

Source: Trading View

On the other hand, meme token hodlers have historically been profitable during downturns in the global market by holding tokens like PEPE, DOGE, and SHIB, in line with what ETHNews previously disclosed.

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Syofri
Syofri
Syofri is an active forex and crypto trader who has been diligently writing the latest news related to the digital asset sector for the past six years. He enjoys maintaining a balance between investing, playing music, and observing how the world evolves. Business Email: info@ethnews.com Phone: +49 160 92211628
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