PEPE Price Analysis: Resurgence Above MA50 Signals Bullish Momentum
PEPE, the green frog-themed meme coin, recently climbed above its crucial resistance level, the 50-day Moving Average (MA50). This move marks a significant bullish signal for traders and investors who have witnessed a prolonged downtrend since early June.
Price Action and Technical Indicators
At the time of writing, PEPE is trading around $0.00001174, up over 10% in the past 24 hours. Its trading volume has also spiked by 105%, indicating increased investor interest.
Technical indicators suggest further upside potential for PEPE. The Relative Strength Index (RSI) has crossed above the daily moving average, signaling a bullish bias. Additionally, the MACD is expected to form a bullish crossover in the coming days.
Support and Resistance Levels
If PEPE holds above its current support level, it faces resistance at $0.00001725 and $0.00001981. Conversely, potential support levels lie at $0.00000848 and $0.00000733.
Whale Activity and Open Interest
Data from Coinalyze indicates a 14% increase in Open Interest (OI) for 1000PEPE across major exchanges over the past 24 hours. Binance holds the largest share, suggesting that funds are flowing into PEPE.
The Long/Short ratio for 1000 PEPE has jumped to 1.93, indicating that 65.82% of traders are bullish on PEPE while only 34.18% are shorting it.
SHIB and PEPE Whale Transfers
Amid the broader crypto market rally, SHIB has also experienced a modest gain. However, whale activity shows that major holders are unloading their PEPE holdings. Two whales have recently transferred $25.95 million worth of SHIB and PEPE to Binance.
Rollblock (RBLK) Prospects
In addition to the PEPE price analysis and whale movements, the new crypto project Rollblock (RBLK) continues to generate interest. RBLK focuses on skill-based games on the internet.
Utilizing a decentralized finance (DeFi) approach, RBLK holders can interact with the game using BTC, ETH, USDT, and the utility token RBLK. Developers promise passive income for token holders, paid weekly from game revenue.
Moreover, a roadmap includes measures to reduce token supply regularly, address inflation, and initiate token buybacks from the open market for staking purposes.