The post PEPE Price Fades as Traders Await Stronger Direction appeared on BitcoinEthereumNews.com.

PEPE price is showing signs of weakening momentum. Key technical indicators suggest the recent uptrend is losing steam. As a result, the coin has fallen almost 10% in the last 24 hours. Additionally, short-term price indicators, such as the EMA lines, remain neutral, signaling that PEPE may test important support levels in the near future. While the possibility of a downward move exists, a resurgence in bullish momentum could push PEPE toward retesting key resistance levels. PEPE ADX Shows The Current Uptrend Is Fading Away PEPE’s ADX has dropped to 17.89, a sharp decline from its peak of 58.52 on September 30, when PEPE was trading at $0.00001147. The ADX (Average Directional Index) is a key technical indicator used to measure the strength of a trend. That measure is regardless of whether it’s bullish or bearish. When the ADX is above 25, it indicates a strong market trend. That suggests that momentum is likely driving the price in one clear direction. On the other hand, when the ADX falls below 20, it signals a weak or nonexistent trend. That points to consolidation or a phase of indecision where no clear price movement is dominant. Currently, with PEPE’s ADX at 17.89, this suggests that the market is in a consolidation phase, lacking strong directional momentum. Read more: Pepe (PEPE) Price Prediction 2024/2025/2030 PEPE ADX. Source: TradingView Such a low ADX value indicates that the price is likely ranging within a narrow band, neither gaining nor losing much ground. This aligns with the idea that PEPE is in a period of reduced volatility, even as one of the biggest meme coins in the market. The sharp drop in ADX also confirms that the strong trend observed in late September has faded, leaving PEPE without a clear directional force. That makes it more…

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Filed under: News - @ October 8, 2024 8:25 pm