- Initial signals for PEPE to rise above 0.00001725 were a bullish flag wedge and a rising triangle.
- The likelihood of the rally was also influenced by supporting factors.
Even though the recent 8.82% decline in PEPE Price over the past 24 hours. Emerging patterns on the market indicate that the trend may be reversing.
AMBCrypto analysis shows that the rally just began, but there are still many details to come.
A bullish flag indicates a potential rally by PEPE
Technically, the bullish-flag pattern, which is characterized as converging diagonals on both upper and bottom, predicts an increase in prices after a period of prolonged consolidation.
It is expected that the chart of PEPE will show a pattern which could push the price up to $0.00001725 (the pattern’s highest peak).
It’s likely that the price will continue to move within this pattern, but a break-out is inevitable.
AMBCrypto’s further analysis indicated that PEPE could rally. Below are more details.
PEPE is on the rise, as evidenced by increased volume and cash flow.
The Moving Average Convergence Divergence (MACD) shows that retail traders are increasingly interested in PEPE.
MACD has shown increasing strength in recent analyses. The MACD line is crossing the red signal line and rising into the positive zone.
MACD, or Moving Average Convergence Divergence, is an important trading indicator used in technical analysis for crypto-price trends. It highlights changes in strength, direction and momentum of the price trend.
Moreover, since August 15th, Chaikin’s Money Flow has entered the positive range. A rising CMF indicates a growth in the amount of liquid entering PEPE.
All of these factors suggest PEPE will be able to rally. The analysis also shows an increase in the number of daily active addresses for PEPE, which adds to this optimistic outlook.
Retail interest renewed
According to SantimentThe number of daily active addresses has increased by 7.98% in the past 24 hours. This indicates a rising interest from retail investors.
You can read more about it here PEPE’s Price Prediction 2024-2025
PEPE has a high level of retail interest, confirmed by both the steadily increasing number of active daily addresses as well as a rising Chaikin Cash Flow. The token’s price is likely to increase if this trend continues.
A breakout of this kind is likely to push PEPE up to new heights, with a price target zone around $0.00001725.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: ambcrypto.com