Crypto Blog
With crypto market sentiment seemingly switching bullish over the past few days, Pepe’s price has begun to rally. The bear market phenom is currently trading at $0.0000006937, up 6.23% in the last 24 hours. Will this momentum continue, or is it merely a bull trap on a downtrend?
A double bottom is where the price finds a support level on a downtrend, retests it, and reverses in the opposite direction. This strongly indicates a trend reversal, but investors must await other reversal confirmations to arise in confluence. Without this, Pepe remains in a downtrend, and buying at this level could be compared to “catching a falling knife.”Lastly, the RSI indicator is in the neutral region at 48.84. This is neither bullish nor bearish but may creep to the overbought territory as we approach the 50-day EMA and $0.0000008149 resistance, opening the door to a rejection and downtrend continuation.
Still, all is not lost for traders looking for a high-potential meme coin to buy now. Introducing: Meme Kombat, a new presale project gathering tremendous bullish momentum.The presale has raised over $530K despite launching recently, luring investors with a whopping 112% staking APY. Furthermore, unlike most other presale projects, Meme Kombat presale buyers can begin staking and earning yield immediately.
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