Pepe Coin price shows signs of potential rebound after a month-long downtrend
Pepe Coin shows signs of a potential rebound, after a decreased one -month -old trend and a week -long consolidation with intermittent tips.
Pepe Coin (Pepper) can be defined for recovery, because the sequential TD indicator displays a purchase signal on its weekly graphic, according to a Recent post x by the technical and chain analyst of cryptography Ali Martinez.
In addition to the sequential TD indicator, purchase signals, Pepe has other signs of a potential rebound. Its market capitalization increased by around 2% to 4.12 billion dollars in the last 24 hours, indicating a renewal of investors’ interest. In addition, the 24 -hour negotiation volume jumped 21.67%, reaching 975.99 million dollars, which suggests that traders enter the market.
Other analysts also report a potential rebound for Pepe. Cryptoelites recently common A graph stressing that the price of Pepe moves in an ascending channel, following a parabolic trajectory. After a recent decline, it seems to have found the support at the level of retracement of 0.786 Fibonacci, at the price of 0.00008392 USDT. This suggests the possibility of continuous rise. The analyst set a short -term objective of an increase in prices of 8x.
As Pepe seems to be preparing for a sharp increase in prices, it should be noted that 37% of the total offer is currently controlled by the first 10 portfolios, according to Etherscan. The largest portfolio alone has 13% of the offer. This indicates a degree of centralization, which means that a small group of holders has a significant influence on the token market.
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