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PEPE Faces Key Support Test At $0.00000589

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PEPE is facing intense bearish pressure, with its price trending downward toward a critical support level at $0.00000589. Recent market actions have shown that the bears are firmly in control, pushing the token closer to this key threshold. As sellers continue to dominate, the question is whether the bulls can step in to defend this level or if PEPE is set for further declines. 

This article will analyze PEPE’s recent price action as it nears the critical support level at $0.00000589 by examining key technical indicators and market dynamics. It will explore whether the bulls can mount a defense to prevent further losses or if the bears will drive the token lower, aiming to provide a potential future outlook for the cryptocurrency.

With a market capitalization exceeding $2.8 billion and a trading volume surpassing $602 million, PEPE was trading at approximately $0.000006683, reflecting a 6.47% decrease at the time of writing. In the past 24 hours, its market cap has dropped by 6,47%, while trading volume has increased by 74.80%.

Current Market Sentiment: Bearish Signals Dominate

On the 4-hour chart, although PEPE is attempting to move upward, it has maintained its downward trajectory after successfully breaking below the $0.00000766 level, continuing to trade below the 100-day Simple Moving Average (SMA). The asset is moving closer to the $0.00000589 support level, with negative market sentiment persisting.

PEPE
PEPE declining after failing to hold the $0.00000766 level | Source: PEPEUSDT on Tradingview.com

Also, the Relative Strength Index (RSI) on the 4-hour chart is currently at 31%, indicating that PEPE is in the oversold zone. This level suggests that selling pressure has been strong, potentially hinting at a short-term rebound or consolidation if the bears do not maintain dominance.

On the daily chart, PEPE has shown significant bearish momentum since breaking below the $0.00000766 level and trading under the 100-day SMA. While the cryptocurrency is currently attempting an upward move, this rebound could be short-lived due to the prevailing bearish sentiment, which continues to exert pressure on the price.

PEPE
PEPE’s rebound challenged by bearish sentiment | Source: PEPEUSDT on Tradingview.com

Finally, the RSI signal line on the 1-day chart is currently sitting at 36% as it continues to trend below the 50% threshold, suggesting that PEPE remains under bearish pressure, with the potential for bears to regain control and push the price lower.

What’s Next For PEPE: Outlook For The Coming Days

The current bearish trend, marked by negative momentum indicators, suggests that the bears could drive the price of PEPE to the $0.00000589 support level. If this support is broken, it could trigger further bearish action, potentially pushing the asset down to the $0.00000398 support level and possibly lower.

However, if PEPE bounces back at the $0.00000589 support, it could retrace towards the resistance level at $0.00000766. Should the crypto asset break above this level, it could signal a further upward movement, possibly targeting the $0.00001152 resistance range and other higher levels.

PEPE
PEPE trading at $0.0000068 on the 1D chart | Source: PEPEUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com



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GOAT Price Sees Slower Growth After Reaching $1B Market Cap

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GOAT price has skyrocketed 214.29% in one month, recently breaking into the $1 billion market cap and securing its place as the 10th largest meme coin. It now stands just ahead of MOG, which closely trails its position in the rankings.

However, recent indicators suggest that GOAT’s uptrend may be weakening, raising questions about whether it can sustain its rally or face a potential correction.

GOAT BBTrend Is Negative For The First Time In 4 Days

GOAT BBTrend has turned negative for the first time since November 17, now sitting at -0.54. This shift suggests that bearish momentum is beginning to take hold, with the asset’s recent upward trajectory starting to weaken potentially.

BBTrend measures the strength and direction of price trends using Bollinger Bands, with positive values indicating an uptrend and negative values signaling a downtrend. A negative BBTrend reflects increased downward pressure, which could indicate the start of a broader market shift.

GOAT BBTrend.
GOAT BBTrend. Source: TradingView

GOAT has had an impressive November, gaining 61% and reaching a new all-time high on November 17.

However, the current negative BBTrend, if it persists and grows, could signal the potential for further bearish momentum.

GOAT Is In A Neutral Zone

GOAT’s RSI has dropped to 52, down from over 70 a few days ago when it reached its all-time high. This decline indicates that buying momentum has cooled off, and the market has moved out of the overbought zone.

The drop suggests a shift toward a more neutral sentiment as traders consolidate gains and the strong bullish pressure seen earlier subsides.

GOAT RSI.
GOAT RSI. Source: TradingView

RSI measures the strength and velocity of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 52, GOAT’s RSI is in a neutral zone, neither signaling strong bullish nor bearish momentum.

This could mean the current uptrend is losing strength, and the price may consolidate or move sideways unless renewed buying pressure reignites upward momentum.

GOAT Price Prediction: A New Surge Until $1.50?

If GOAT current uptrend regains strength, it could retest its all-time high of $1.37, establishing its market cap above $1 billion, a fundamental threshold for being among the biggest meme coins in the market today.

Breaking above this level could pave the way for further gains, potentially reaching the next thresholds at $1.40 or even $1.50, signaling renewed bullish momentum and market confidence.

GOAT Price Analysis.
GOAT Price Analysis. Source: TradingView

However, as shown by indicators like RSI and BBTrend, the uptrend may be losing steam. If a downtrend emerges, GOAT price could test its nearest support zones at $0.80 and $0.69.

Should these levels fail to hold, the price could fall further, potentially reaching $0.419, putting its position in the top 10 ranking of biggest meme coins at risk.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Ripple (XRP) Price Hits 109% Monthly Gain as Indicators Weaken

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Ripple (XRP) price has experienced a significant rally, rising 51.33% in the last seven days and an impressive 109.09% over the past month. This strong momentum has propelled XRP into a bullish phase, with key indicators like EMA lines supporting its upward trajectory.

However, signs of weakening momentum, such as a declining RSI and negative CMF, suggest that caution may be warranted. Whether XRP continues to push higher or faces a steep correction will depend on how the market reacts to these shifting dynamics.

XRP RSI Is Below The Overbought Zone

XRP’s RSI has dropped to 60 after nearly hitting 90 on November 16 and staying above 70 between November 15 and November 17.

This decline indicates that Ripple has moved out of the overbought zone, where intense buying pressure previously drove its price higher. The drop suggests that the market is cooling off, with traders potentially taking profits after the strong rally.

XRP RSI.
XRP RSI. Source: TradingView

The RSI measures the speed and magnitude of price changes, with values above 70 indicating overbought conditions and below 30 signaling oversold levels. At 60, XRP’s RSI reflects a still-positive momentum but shows a more balanced sentiment compared to the previous surge.

While the uptrend remains intact, the lower RSI could indicate a slower pace of gains, with the possibility of consolidation as the market stabilizes. If buying pressure returns, XRP price could extend its upward movement, but a further decline in RSI might signal a weakening bullish momentum.

Ripple CMF Is Now Negative After Staying Positive For 14 Days

XRP Chaikin Money Flow (CMF) is currently at -0.12, after showing positive levels between November 5 and November 19. That is also its lowest level since October 31. This shift into negative territory reflects increased selling pressure and a potential outflow of capital from the asset.

The transition from positive CMF values earlier this month signals a weakening in bullish momentum as more market participants reduce exposure to Ripple.

XRP CMF.
XRP CMF. Source: TradingView

The CMF measures the volume and flow of money into or out of an asset, with positive values indicating capital inflow (bullish) and negative values showing capital outflow (bearish).

XRP’s CMF at -0.12 suggests that bearish sentiment is beginning to gain traction, potentially putting pressure on its price despite the recent uptrend. If the CMF remains negative or declines further, it could indicate sustained selling pressure, challenging Ripple’s ability to continue its upward movement.

Ripple Price Prediction: Biggest Price Since 2021?

XRP’s EMA lines currently display a bullish setup, with short-term lines positioned above the long-term lines and the price trading above all of them.

However, the narrowing distance between the price and some of these lines suggests a potential slowdown in bullish momentum. This could signal that the uptrend is weakening, leaving XRP price vulnerable to a shift in market sentiment.

XRP Price Analysis.
XRP Price Analysis. Source: TradingView

If a downtrend emerges, as indicated by the weakening RSI and negative CMF, Ripple price could face significant pressure and potentially drop to its support at $0.49, representing a substantial 56% correction.

On the other hand, if the uptrend regains strength, XRP could climb to test the $1.27 level and potentially break through to $1.30, which would mark its highest price since May 2021.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Trump Media Files Trademark for Crypto Platform TruthFi

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Trump Media & Technology Group is exploring the development of a crypto payment platform, as revealed by a recent trademark filing. 

The application, submitted by Donald Trump’s social media company on Monday, outlines plans for a service named TruthFi. The proposed platform aims to offer crypto payments, financial custody, and digital asset trading.

Following the trademark announcement, Trump Media’s stock rose approximately 2%. At the time of writing, the stock was trading at $30.44, up by nearly 75% this year. 

However, details about TruthFi remain scarce, including its timeline or operational specifics. This initiative suggests an effort by Trump Media to expand its business model beyond Truth Social. 

The social media platform was established back in 2022, after Trump was banned from Facebook and X (formerly Twitter). 

Trump Media truthfi trademark filiing
TruthFi trademark filing. Source: Trademark Status and Document Retrieval

Nevertheless, launching a large-scale cryptocurrency platform could require Trump Media to acquire additional resources or partner with an established firm. This is because the firm currently has a small workforce of less than 40 employees. 

“The filing, made with the USPTO on Monday, indicates that Trump Media plans to offer: Digital wallets, Cryptocurrency payment processing services, and A digital asset trading platform,” US Trademark Attorney Josh Gerben wrote on X (formerly Twitter). 

As reported by BeInCrypto earlier, Trump Media is also in discussions to purchase the b2b crypto trading platform Bakkt. Shares in Bakkt surged by nearly 140% since the news earlier this week. 

Meanwhile, the President-elect’s crypto plans seem to be in full swing even before he takes office in January. He is also reportedly considering the first-ever crypto advisor role for the White House, and interviewing several potential candidates.

Earlier today, the current SEC chair Gary Gensler announced his resignation before Trump’s term begins. Gensler’s resignation boosted the crypto market, as it signals a major change in the SEC’s regulatory stance

Notably, XRP surged 7% to its highest value in three years. Bitcoin also neared $99,000, as the overall crypto market cap reached $3.4 trillion. 

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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