PEPE token has recently witnessed a 16% bounce from its three-month low reached on September 17. Despite this, PEPE remains under its 20-day EMA, leaving traders questioning the sustainability of the bounce. The direction PEPE takes in near future will be a consequence of how well the digital asset handles the support and resistance levels it encounters.
The 20-day EMA for PEPE price is at $0.0000007105, considerably lower than the 50-day EMA ($0.0000008698) and the 100-day EMA ($0.0000010661). Normally, if the short-term EMA is under the long-term EMA, it hints at a bearish sentiment. However, the PEPE price is currently around the 20-day EMA, hinting at a possible uplift. Meanwhile, Relative Strength Index (RSI) depicts a neutral zone for PEPE, neither overbought nor oversold, whereas the MACD histogram signifies bullish momentum.
Though PEPE price has attracted capital, the declining trading activity sends out a cautious signal among traders. Key resistance for PEPE lies at 20-day EMA of $0.0000007105 followed by a more formidable resistance zone between $0.0000006975 and $0.0000008295. Breaking this resistance could mean an upward trend. The flip side could see PEPE declining, possibly hitting new lows.
As such, while indicators suggest a possible breakout, vigilance is advised. The next direction of PEPE will be dictated by either a successful breakout past the 20-day EMA resistance or a dip below the recent low.
And as the cryptocurrency market remains mired in such uncertainty, eyes are turning towards more stable investment opportunities. In comes Launchpad XYZ, a blockchain start-up development platform catering to the Web 3.0 sector. Their proprietary token LPX is currently in its pre-sale stage and will be listed on their decentralized exchange once the presale ends.
What makes Launchpad XYZ a potential game-changer are the features it plans to provide. From analytics to decentralized token swaps to ICO access, the platform aims to be the gateway to Web 3.0 investments. Staking LPX tokens will grant users access to these premium features and other investor benefits.
Given the volatility of crypto-assets, and tokens like PEPE providing mixed signals, reliable opportunities like that of Launchpad XYZ gain prominence. Offering an intuitive and comprehensive platform, coupled with its commitment to security and trust, Launchpad XYZ poses substantial potential in the growing Web 3.0 sector. Be that as it may, remember that crypto-investing comes with high risk and do your due diligence before stepping in.
Source: Cryptonews
