PEPE to soar 20%, 63% of traders go long
The post PEPE to soar 20%, 63% of traders go long appeared on BitcoinEthereumNews.com.
63.02% of top traders on Binance are going long on PEPE. $5.17 million worth of the PEPE outflow from the exchanges was recorded. Despite uncertain market sentiment, Pepe [PEPE], the third-largest memecoin, appears bullish and primed for an upward move. This optimism stems from its strong price action and consistent support from on-chain metrics. Both factors reinforce its positive outlook. At press time, the memecoin was trading near $0.00000745 and had gained 1.20% in the past 24 hours. However, due to ongoing consolidation, traders and investors seem hesitant to engage with the token. This reluctance has led to reduced trading activity. As a result, PEPE’s trading volume has dropped by 15% within the same period. PEPE price action and key level According to AMBCrypto’s technical analysis, PEPE appeared to be forming a bullish double-bottom price action pattern on the daily time frame. Additionally, it recently broke out of a descending trendline that had been acting as resistance since late March 2025. Source: TradingView Following the breakout, the memecoin rose over 10% despite ongoing hurdles and market uncertainty. Moreover, PEPE’s price is still poised for a 20% upside move in the coming days. Source: TradingView Additionally, if this upside momentum continues and PEPE closes its daily candle above the $0.0000091 level, the rally could extend further, potentially reaching the next resistance level at $0.000014. This indicates that the memecoin still has room for an 85% upside rally. At the time of writing, PEPE was trading below the 200-day Exponential Moving Average (EMA) on the daily time frame. This technical indicator suggests that the memecoin is in a downtrend and currently holds weak momentum. Alongside its bullish price action, a crypto expert recently highlighted PEPE’s historical performance on X (formerly Twitter). The expert noted that in October 2024, PEPE surged over…
Filed under: News - @ April 15, 2025 1:27 pm