Welcome to Extreme Investor Network, where we bring you the latest insights and analysis on the stock market, trading, and all things Wall Street. Today, we are diving into the exciting world of cryptocurrency trading with a closer look at PEPE/USDT.
Looking at the daily price chart, we see that PEPE is approaching a key trendline. In order to make a bullish move, PEPE needs to decisively close above the 50-day and 200-day exponential moving averages (EMA) at $0.00001013 and $0.00000843 levels, respectively.
One positive sign is the recent price rebound in PEPE, which is accompanied by a rise in the daily relative strength index (RSI). The RSI is currently around 41.60, sitting in a neutral zone. This suggests there is potential for further upside momentum, at least until the RSI hits the overbought threshold of 70.
If PEPE can successfully reclaim the channel’s lower trendline as support, we could see the token aiming for the upper trendline around $0.00003405 by the end of Q3 2024 or sometime in Q4. This represents a potential 300% rally from current price levels.
However, failure to reclaim the ascending channel’s lower trendline could lead to a bearish continuation setup, as indicated in the four-hour chart.
Stay tuned to Extreme Investor Network for more updates on PEPE/USDT and other exciting trading opportunities. Be sure to check back regularly for expert analysis and unique insights that can help you navigate the ever-changing landscape of the stock market. Let us be your trusted source for all things investing.