- PEPU appeared poised for another rally as it traded within a bullish symmetrical pattern.
- Bullish technical indicators suggest continued upward momentum for the asset.
As a seasoned researcher with years of experience navigating the volatile world of cryptocurrencies, I find myself intrigued by the current bullish sentiment surrounding Pepe Unchained (PEPU). The asset’s performance over the past 24 hours has been nothing short of impressive, especially considering its listing on Uniswap.
In the past day, the price of Pepe Unchained (PEPU) has skyrocketed by 75.18%, primarily due to its recent listing on Uniswap. Anticipation is mounting among investors for the launch of its forthcoming Layer 2 blockchain.
This rally is linked to its Uniswap listing, which has attracted significant trader interest.
A 67% upswing for PEPU?
PEPU saw an impressive 24-hour rally during its launch phase, and its momentum could continue.
In simpler terms, the value of the asset was moving between two lines that were gradually coming closer together, indicating a buying trend among market participants. This pattern is often referred to as a symmetrical triangle.
PEPU is currently probing its resistance level and appears ready to burst through. Should this breakout occur, the price might skyrocket by approximately 67.84%, potentially reaching $0.041 and setting a fresh record high since it first came into being.
It seems that a surge or increase is imminent, given the continuous buildup and growing strength suggested by the technical signals.
More traders are accumulating PEPU
It appears that PEPU is experiencing an uptick in the amount being stockpiled by various market players, as suggested by the Accumulation/Distribution (A/D) signal.
The A/D pattern has just surpassed a falling trendline and seems to be returning towards its initial position at approximately -1.37 million. Should this trend persist, the asset’s value might rise even more. As the A/D indicator moves closer to positive territory, it suggests a higher likelihood of an upward trend.
Additionally, bolstering this optimistic view is the appearance of a “golden cross” pattern. This occurs when the blue Moving Average Convergence Divergence (MACD) line surpasses the orange signal line.
This progression is picking up speed, as indicated by two successive increases in the Moving Average Convergence Divergence (MACD) histogram bars. This implies that PEPU might be poised for an upward trajectory starting from its present position.
The meme market takes a hit
Over the past day, there’s been a decrease in the memecoin market, with a drop of approximately 2.99% in total market capitalization, now standing at around $115.32 billion. The trading volume has also significantly decreased by about 34.83%, currently sitting at roughly $29.43 billion.
In the group of the ten most valuable meme coins, PEPE encountered considerable stress. There was a substantial drop in its value, amounting to 10.79%.
Regardless of the overall market decline, PEPU’s persistent climb suggests its capacity for growth. This asset is poised to gain substantially once the memecoin market recovers and rebounds.
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2024-12-11 23:35