PEPE Price Jumps 15%, Momentum Signals Bullish Trend Ahead
2024-11-07

PEPE’s price is displaying strong momentum, with indicators pointing to a strengthening trend. The ADX reflects a solid uptrend, while the 7-day MVRV ratio suggests further growth potential before significant profit-taking.
If momentum sustains and a golden cross forms, PEPE may test higher resistance levels. However, a pullback remains possible if buying pressure diminishes.
PEPE’s Current Trend Is Strong
PEPE’s ADX has climbed to 32, a significant increase from below 20 just a few days ago, signaling that the strength of its current trend is gaining momentum. The ADX, or Average Directional Index, measures the strength of a trend without indicating its direction.
Typically, values above 25 suggest a strong trend, while values below 20 indicate a weak or non-trending market.
With the ADX now at 32, PEPE appears to be forming a strong uptrend. This level indicates substantial momentum behind the current price movement. A rising ADX, in combination with upward price action, generally supports the case for a sustained uptrend.
If this trend continues, PEPE could see further price gains as buying pressure remains steady.
PEPE MVRV Ratio Reveals an Important Threshold
PEPE’s 7-day MVRV ratio has surged to 4.7%, a notable increase from -10% just two days ago, indicating that recent buyers are now seeing gains. The 7-day MVRV (Market Value to Realized Value) ratio measures the average profit or loss of holders who acquired the asset within the past week.
When this ratio is positive, it suggests that recent buyers are in profit, which can sometimes lead to selling pressure as investors take gains. Conversely, a negative ratio indicates that buyers are at a loss, which may reduce selling motivation.
Recently, PEPE’s price tends to correct when the 7-day MVRV ratio approaches levels around 9%, as this level often triggers profit-taking activity.
With the current MVRV ratio still below that threshold, there may be room for further price growth before significant selling pressure emerges.
PEPE Price Prediction: Can It Sustain The Good Momentum?
PEPE’s EMA lines currently display a bearish configuration, with short-term EMAs positioned below the long-term ones, indicating recent downward pressure.
However, the recent surge in PEPE’s price has caused the gap between these EMAs to narrow, suggesting that momentum may be shifting. If this trend continues, a golden cross could soon appear, where short-term EMAs cross above the long-term ones, a bullish signal that often marks the start of a stronger uptrend.
If PEPE’s uptrend remains intact, the price could move toward testing resistance around $0.00001082. Conversely, if the current momentum fades and the downtrend resumes, PEPE may revisit support levels around $0.0000088 and possibly as low as $0.0000077.