Pepe (PEPE) has jumped by 5.7% in the past 24 hours, and trading volumes have picked up from their recent lows, with over $500 million negotiated. A top crypto trader believes that this move could favor a bullish Pepe price prediction.
Ali Martinez, a trader whose X account is followed by more than 146,000 users, shared on Tuesday that the TD Sequential indicator has flashed a buy signal in Pepe’s daily chart.
This tool is used to spot trend reversals in price charts. This latest buy signal came up once Pepe was trading at $0.00001064 and has already delivered gains of around 2%.
Additional confirmation of this bullish outlook may come if trading volumes exceed $1 billion or so, as PEPE’s biggest moves tend to occur when volumes reach those levels.
In the futures market, open interest (OI) closed yesterday 41% below its recent peak of $1 billion, indicating that traders are not yet convinced that PEPE’s outlook is positive.
The price of PEPE could reach at least $0.00001200 in the next few days, meaning an 11% upside potential in the near term, if this buy signal is confirmed.
Pepe Price Prediction: PEPE Climbs After Hitting Key Support – $0.00001450 In Sight
The 4-hour chart shows that the token bounced strongly off the $0.00001000 area. This was a key psychological threshold to watch, and buying interest seems to have been strong enough to confirm that PEPE has hit a temporary floor.
Volumes have been increasing in this lower time frame ahead of the American session’s opening. The 200-period exponential moving average (EMA) stands in the way of PEPE reaching the first target ($0.00001200).
If the price breaks above those areas, a big move toward $0.00001450 could be expected. This would result in even higher gains if a position is opened at this point.
A $1 target for PEPE is unrealistic unless a massive token burn occurs, as Pepe’s circulating supply is 420.7 trillion tokens. However, these latest price action signals do point to an upcoming rally that could push PEPE near its latest highs.
One way to profit from buy and sell signals like the ones produced by the TD Sequential indicator is to open long or short positions by using a platform like Coin Futures.
This new crypto futures trading platform allows you to take direction trades in different cryptocurrencies like Pepe, Bitcoin (BTC), and Ethereum (ETH) and cash out automatically once the price hits a pre-defined target.
Coin Futures Supports Deposits in Crypto and Fiat and Offers Up to 1000X Leverage Ratio
Coin Futures is a crypto trading platform that allows users to place directional bets on their favorite cryptocurrencies.
Simply choose which direction you think the price will take from where it is (up or down). Next up, set the wager’s size and choose a price multiplier. This is the leverage ratio of your trade. The higher the multiplier, the bigger your position will be.
Coin Futures offers automated trading tools to limit your losses and take profits after hitting a specific price target. You can also cash out of the app at any point.
To open an account and start trading, simply head to the Coin Futures website and click the “Register” button. You can make a deposit via crypto transfer of USDT, USDC, ETH, and more or use a bank card.
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The post Pepe Price Prediction: TD Sequential Triggers Buy Signal – PEPE Targets $1 Level appeared first on Cryptonews.
