The crypto market is bearish, with several top tokens down double figures in the past week. Meme assets such as Pepe have witnessed a sharp rebound in price in the past 24 hours. However, due to market volatility, there are questions about how long this trend will last. Amid market fluctuations, Pawfury (PAW) is emerging as a presale favorite, attracting investors with the promise of high returns and a more predictable trajectory compared to established coins.
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PEPE’s Recent Rally: A Closer Look at Technical Indicators
Pepe witnessed an 18% spike in value in the past 24 hours and has seen growth in trading volumes during this period. Looking at the daily chart movement, a trend has formed suggesting a decline in the coming days.
Source: TradingView
A closer look at the indicator shows that PEPE currently trades below the lower band of this volatility marker. When such happens, it could signal a continuation of the downtrend. The token’s negative Awesome Oscillator confirms this possibility. Despite the double-digit price hike in the past 24 hours, PEPE’s Awesome Oscillator has continued to post red bars.
This indicator measures an asset’s market momentum. When its bars are red, it indicates that the market is experiencing a bearish momentum. This puts PEPE at risk of shedding the gains recorded over the past 24 hours.
Conclusion:
Pepe’s recent upsurge provides relief for investors, but this could be short-lived. Pawfury provides an alternative with its lucrative presale and 10% bonus. However, investors must do their own research and due diligence. Thoroughly evaluating the risks, understanding market conditions, and considering individual financial situations will help ensure well-informed investment decisions.
