PEPE Sees 18% Price Spike in 24 Hours, But It Might Not Hold
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The cryptocurrency market rebounded modestly, leading to an 18% rise in meme coin Pepe (PEPE) in the past 24 hours. Despite this surge, market indicators suggest the gains may not hold due to high volatility.
The Bollinger Bands show increased market volatility with PEPE trading below the lower band.
The Awesome Oscillator remains negative, indicating bearish momentum.
PEPE's Relative Strength Index is below the neutral line at 39.93, suggesting selling pressure outweighs accumulation.
New demand is necessary to sustain any positive momentum, or PEPE risks a decline to $0.0000058.
Source: beincrypto.com ↗
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