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Bulls Make Gains as PEPE Maintains Uptrend

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Bulls,Gains,Support Zone

The bulls managed to make some gains over the past couple of days as the $0.0000062 support zone was retested and saw a positive reaction. However, the number of new addresses and daily active addresses have declined, potentially leading to a fall in demand. PEPE has maintained an uptrend on longer timeframes, but bears need to beat the swing low at $0.00000581 to flip the market structure bearishly. The Chaikin Money Flow indicates heavy capital flow out of the market, suggesting further losses may be imminent. PEPE prices could potentially dip further to hit nearby liquidation levels, with the $0.0000056 area also being of interest.

bulls managed to make some gains over the past couple of days. The $0.0000062 support zone was retested again and saw a positive reaction.showed that the number of new addresses has fallen in the past few days. The daily active addresses have also declined, which could see the demand fall as well. PEPE maintained an uptrend on the longer timeframes. The swing low at $0.00000581 is the one bears have to beat to flip the market structure bearishly.

The Chaikin Money Flow was below -0.05 to indicate heavy capital flow out of the market. This suggested that further losses were imminent.The token has already seen a short-term positive reaction but could decide to dip further to hit the liquidation levels bunched up nearby. The $0.0000056 is also an area of interest that could attract PEPE prices. If we see such a drop, it would indicate bears were dominant and that the trend had potentially shifted.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.Akashnath Sumukar works as a Senior Journalist at AMBCrypto. Based in Chennai, India, he has been an avid follower of the cryptocurrency market since Bitcoin’s boom and bust cycle of 2017. A graduate in Chemical Engineering, he is an expert in technical analysis.

Source: News Formal (newsformal.com)

Bulls Gains Support Zone Reaction New Addresses Daily Active Addresses Demand PEPE Uptrend Swing Low Market Structure Bearish Chaikin Money Flow Capital Flow Losses Liquidation Levels

 

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