The post PEPE’s historical trends – How, why, and can traders take advantage of it all? appeared on BitcoinEthereumNews.com.

PEPE hit the upper band of the Bollinger Bands it has been trading within Some participants seemed to be aligned with a drop, while the market maintained its bullish structure Over the last 24 hours, PEPE has been on a downtrend, with a minimal loss of 1.06%. Analyzing the memecoin’s price action revealed that while spot traders have been accumulating, derivatives traders have been focused on selling PEPE. Especially as short contracts rose across the market. In fact, AMBCrypto’s analysis suggested that the market could go either way. Worth pointing out, however, that two technical indicators suggested that the bulls may overturn the bears and gain momentum. A historic bearish confluence A recent analysis of the Bollinger Bands on the daily chart revealed that the asset has been trading close to its upper band. This level is known to house major selling pressure, one that forces a decline in the altcoin’s value.  Historically, PEPE at this level has recorded major price drops, losing 49%, 28%, and 46% in the last three instances when the price hit this level. Source: TradingView If this trend repeats itself, PEPE could see a significant decline, potentially leading to a double-digit percentage drop. If this happens, the crypto-asset will return to trading below its descending line – A level it previously breached. Source: TradingView When the price crosses above this descending line, it typically signals the start of a rally and is followed by a high-momentum move. However, in this case, the price has been moving sluggishly, struggling to establish a rally. This indicated that a decline is, in fact, still possible. AMBCrypto also found that derivatives and spot traders remain divided on the altcoin’s next price direction. Derivative and spot traders remain on different pages Over the last 24 hours, derivatives and spot traders…

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Filed under: News - @ March 23, 2025 6:05 am