Pepecoin (PEPE) has experienced a difficult week in the cryptocurrency markets, with downward movements dominating the chart. This downward trend has seen PEPE slide down by 13% since Sunday. The technical structure of PEPE has been facing challenges due to resistance from the 20DMA since July 16, causing a state of fearful anxiety among PEPE holders. The current price of Pepecoin stands at $0.00000123, with a 24-hour change of -1.6%.
Pepecoin has been struggling against local resistance from the 20DMA for the past 16 days, resulting in a continuous drop in its price. The technical structure of PEPE has been breaking down for the past 9 days, indicating a considerable downside risk. Previous instances of Pepecoin losing support from the 20DMA have resulted in more than a month of price suffocation under resistance, further highlighting the potential downside risk.
However, amidst the bearish trendlines, there are some positive indicators that offer relief. The RSI (Relative Strength Index) has cooled off significantly during the recent downward move and is now showing an oversold signal at 34.53. This implies that the downside moves may be coming to an end, with the potential for an upward push in the near future. On the other hand, the MACD (Moving Average Convergence Divergence) is still showing minor bearish divergence with a signal of -0.000000003, suggesting that the downtrend could continue on the short-time frame.
Considering the technical analysis, Pepecoin faces a tough risk-reward profile. The upside potential is limited by the local resistance from the 20DMA at $0.0000015 (+22.95%), while the downside has lower support at $0.0000009 (-26.25%). This leaves Pepecoin with a risk-reward ratio of 0.88, indicating a challenging situation for investors.
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Pepecoin (PEPE) has faced a challenging week, with downward movements and technical struggles dominating its chart. Despite the bearish trendlines, there are positive indicators that suggest a potential end to the downside moves. However, the risk-reward profile for Pepecoin remains tough, limiting its upside potential while facing the risk of further downside.
Meanwhile, Shibie, the Shiba Inu-Barbie crossbreed, is generating buzz and excitement in the crypto community. With its unique concept and strong marketing strategy, Shibie aims to redefine the meme coin space and capture the attention of crypto enthusiasts.
Investors have the opportunity to be a part of the Shibie revolution by participating in the presale. With significant potential gains on the horizon, Shibie offers a chance to make a mark in the crypto meme coin vertical.