PEPE price is on a sharp increase, rising nearly 60% in the past seven days. This impressive rally is driven by positive technical indicators, including a supportive EMA and healthy RSI levels.
However, there are signs that while buyers still prevail, the intensity of the uptrend may be starting to cool.
PEPE’s Current Trend Remains Strong
PEPE’s ADX index is currently 46.13, down slightly from above 50 just one day ago. This decline suggests that, while the strength of the trend remains strong, it appears that the intensity of this rally is fading.
Still, PEPE is still in a solid uptrend, climbing 59.69% over the past seven days. This shows that buyers are still in control, but momentum may be starting to ease.
The Average Directional Index (ADX) is a technical indicator used to measure trend strength, regardless of direction. ADX values below 20 indicate a weak trend, while values above 25 indicate a strong trend. With PEPE’s ADX currently at 46.13, the uptrend remains strong, although the recent decline in the ADX index suggests that the trend’s strength may be cooling.
This suggests that while PEPE is still experiencing upward momentum, investors should pay attention to signs that the strength of the move may be losing some of its strength, which could lead to a period of consolidation. rampart.
PEPE No Longer Overbought
PEPE’s Relative Strength Index (RSI) is currently at 60.56, down from near 80 just a few days ago. This decline shows that buying pressure has decreased sharply after reaching an overbought condition.
The decline in RSI shows that while there is still positive momentum, it is not as strong as before, and the risk of an immediate correction has diminished.
Typically, when RSI is above 70, it means buyers have pushed the asset into the overbought zone, which can trigger a price correction. Conversely, an RSI below 30 shows that sellers have pushed the asset into an oversold condition, which could create a buying opportunity.
PEPE’s RSI is currently at 60.56, which means it is no longer overbought, but still shows a healthy level of growth momentum.
PEPE Price Prediction: Highest Price From May 2024?
PEPE’s EMAs are currently showing a very bullish configuration, with the short-term EMAs above the long-term EMAs, and the price is comfortably above all of them.
If the uptrend continues, PEPE could test the next resistance at $0.00001580. If this resistance breaks, the price could climb to $0.00001726, which would be the highest level from May—a move that would potentially increase 30.85%.
However, if the bullish momentum weakens and selling pressure emerges, PEPE price could correct to the support around 0.00001084 USD.
If this support fails to hold, the price could fall further to $0.0000089, marking a potential decline of 32% from current levels.