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The Moonwell Price has soared 93% in the past month after surging 18% in the last 24 hours to trade at $0.04836 as of 7:25 a.m. EST on a 162% pump in trading volume to $12 million.
Moonwell Price Signals Further Uptrend
The WELLUSD chart shows a solid bullish reversal, with a double bottom pattern forming around the $0.030 level. This pattern typically signals a shift from a downtrend to an uptrend, which was confirmed once the price broke out above the neckline.
After that breakout, the price shot up, now sitting around $0.04909, suggesting the beginning of a potential uptrend.
The price has already crossed the 50-period moving average, currently at $0.03448, indicating short-term bullish momentum is in play. On the other hand, the 200-period moving average, sitting at $0.03106, is way below the current price, highlighting long-term bullish sentiment.
The growing gap between the Moonwell price and these moving averages just reinforces the strength of this upward movement.
WELLUSD Analysis Source: Dextools.io
The MACD supports this bullish outlook. With the MACD line sitting above the signal line and the histogram bars expanding, buying momentum is evident, which confirms the strength of the upward price movement.
However, the RSI, currently at 71.47, is in overbought territory, which means that while the market’s riding strong bullish pressure, a short-term pullback or consolidation might be on the horizon as buyers could start losing steam.
Looking at key price levels, support should hold around the previous double-bottom zone near $0.030. If the price does pull back, the 50-period MA at $0.03448 could serve as another important support level. On the flip side, resistance is likely around $0.05, which could test just how strong this uptrend really is.
The price action looks bullish after the reversal, with the indicators pointing in the same direction. However, with the RSI showing overbought conditions, traders should be mindful of potential short-term corrections.
Pepe Unchained Eyes $20 Million Milestone: Best Meme Coin To Buy Now?
The bullish sentiment found around Moonwell is also evident in the new meme coin Pepe Unchained(PEPU), which has just zoomed past $19.4 million in funds raised in what has become one of the most successful presales of the year.
Popular YouTuber ClayBro, who boasts over 130k subscribers, says investors should get prepared for massive gains for PEPU once it launches
Pepe Unchained differentiates itself from the meme coin masses by coming with its own layer 2 blockchain. The idea behind it is that this proprietary network will ”unchain” the OG PEPE coin from its clunky, slow, expensive Ethereum blockchain.
By creating its own Layer 2 blockchain, PEPU can offer transactions up to 100 times quicker while significantly reducing gas fees. It also maintains full compatibility with existing Ethereum decentralized applications (dApps) and services.
The frog with the golden brain gearing up for L2 launch.
Join our official telegram to hang with the community!https://t.co/ahmb9L28KX pic.twitter.com/8hJQ7IuvJh
— Pepe Unchained (@pepe_unchained) October 5, 2024
Pepe Unchained has also launched the ‘Frens with Benefits’ program, which aims to nurture its ecosystem. This program offers grants to developers to attract new talent to facilitate substantial dApp development on the Pepe Chain.
Investors also have the option to stake $PEPU tokens for an annual return of 113%. More than 1.4 billion PEPE tokens have already been staked.
PEPU tokens are price at $0.00998 each and can be bought using $ETH, $USDT, $BNB, or a bank card. Buy before a price hike in just over a day to lock in the best deal.
You can buy PEPU tokens on the official website here.
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