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The Pepe price has soared 72% in the last week after a 1% jump in the last 24 hours to trade at $0.00001405 as of 5:58 a.m. EST.
The PEPE price surge is part of a longer-term advance that has seen the crypto gain more than 90% over the past month.
Pepe Price Trading Near Resistance, Will It Keep Rising?
Daily chart for PEPE/USD (Source: GeckoTerminal)
The Pepe price is trading near a major resistance level at $0.00001436, which has kept the meme coin’s price down in the last couple of days, according to GeckoTerminal data.
Should the frog-themed token manage to close a daily candle above that barrier within the next 48 hours, it could have the technical foundation needed to rise to the next resistance at $0.00001659 in the short term.
On the other hand, a rejection from the $0.00001436 resistance within the next 48 hours could prompt impatient traders to cash in their profits. This potential sell pressure might start to push the Pepe price toward the closest support at $0.00001245.
A drop below this mark could then expose PEPE to the risk of falling to as low as $0.00001063 if the bearish pressure persists.
Technicals Point To Cautious Optimism For Pepe Price Traders In The Short Term
From a technical standpoint, indicators on the daily chart show momentum is in bulls’ favor, but warn that buyers’ strength has taken a hit. Traders will want to keep an eye on short-term Exponential Moving Averages (EMAs) and the Relative Strength Index (RSI) on the daily chart.
Currently, the 9 EMA is positioned above the 20 EMA. This suggests the Pepe price is still in a bullish trend.
However, a rejection from the aforementioned $0.00001436 resistance might end up pushing PEPE below the 9 EMA, which is acting like a dynamic support for the crypto’s price and also coincides with the $0.00001245 support. As such, a drop below this technical indicator could signal the start of a new bearish trend.
As mentioned, there has been a drop in buyer power over the past 48 hours, as evident by the decrease in RSI readings during this period. This is as the indicator warns the Pepe price is in overbought territory, prompting some traders to decrease their exposure to reduce downside risk.
Generally, RSI readings above 70 suggest a crypto’s upside potential is less than its downside potential, and are therefore seen as a sell signal. If more traders react negatively to the high RSI values, it could result in a pullback for the Pepe price.
Overall, the current alignment of the 9 and 20 EMAs, coupled with the high RSI readings, suggests a cautious short-term bullish outlook for the Pepe price.
As the Pepe price tries to keep climbing, investors are rushing to buy a new rival called MIND of Pepe (MIND) before its presale ends in under 17 days.
Experts are bullish on MIND’s post-presale prospects. This includes the 99Bitcoins YouTube channel, with over 725K subscribers, which predicted 10X gains for MIND after its launch.
The First AI Pepe To Enter The Market Soon
MIND looks to capitalize on the growing investor interest in AI agent cryptos and meme coins by combining the two sectors into one token. To maximize its chances at success, the project’s team have also opted for branding inspired by the beloved PEPE, which is the third largest meme coin by market cap.
MIND of Pepe is more than just another meme coin, and introduces a cutting-edge AI, which was launched on May 10, that can spot new trends in the market using hive-mind analysis.
It achieves this by plugging into popular social platforms and various DeFi protocols to create a real-time snapshot of the market.
If the AI spots a new trend that could lead to profits, it shares its insights with MIND holders through token-gated groups.
The AI agent also takes it a step further, and launches its own cryptos that align with each new trend autonomously. Thereafter, it hypes the tokens up online, trades its cryptos, and reinvests any profits back into the MIND token.
Before it does any of this, it gives MIND holders the chance at first buy-in.
MIND’s Blockbuster Presale Is Finishing Soon
MIND’s presale, which has raised over $9.2 million, is about to come to an end.
With time running out, interested investors can buy MIND for $0.0037515 apiece via the widget on its website using either ETH, USDT, BNB, USDC, or bank card.
Buyers will want to acquire tokens before the presale ends in less than 17 days.
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