Pepe currency price (pepe) jumped almost 35% on May 8, recovering the psychological level of $ 0.000010. The explosive movement has taken investors offset, fueling conversations around a new season of memes pieces. With the bullish transformation, Pepe's open interest approaches a new summit of all time, projecting a congregation of leverage traders. Will the increase in feelings propel the price of the PEPE part of an additional 22%?
Price analysis targets 0.0000133444
Pepe Coin Price Rally germinated with a long leg of Doji candle on May 6, ending a morning star model. The inversion scheme led to a pepe rally of almost 35% on May 8, printing a strong bullshit candle. The general signals of the market report wider changes of trend with such a model.
Currently, the PEPE coin is negotiated at 0.0000001091, the levels visible for the last time on February 4. However, the memes play now experiences a small snifting with an intraday withdrawal of 1.84%.
By crossing the 200 -day exponential mobile average (EMA), Pepe alludes to an extended rise. Waiting for the attention of Momentum traders, the positive crossing in the MacD lines and the signal aligns on the optimistic point of view.
Based on fibonacci levels, the Bull Run exceeds the level from 23.60% to 0.00001025 and looks at the level from 38.20% to 0.000013344 $. This projects an additional advantage of 22% compared to the current pepe price and promotes the prediction of hope for the price of the PEPE room.
However, a potential level of the level of 23.60% risks a drawback of 6% and a loss of EMA of 200 days. Such common withdrawals test the conviction of investors. The fact of not holding this support floor warns against a sliding of pepe from 18% to 0.000008832 Retrest.
Binance merchants are extremely confident because an open interest is close to all time
While the parts even go back to surface after months of drinking action, Pepe opens the way with an increase in the feeling of derivatives. THE Open interest (OI) from Pepe reached $ 531 million, almost 555 million dollars as a bull crowd.
In addition, the funded funding rate by OI increases to 0.0118%, reflecting the overvoltage of the volume of the Haussier trade. The Shakedown Bearish of $ 5.71 million in short positions reinforces optimism.
On BinanceHopium leads to 65% of traders who hold long PEPE positions, pumping the long / short ratio at 1.86. While the long positions firmly control the story of the derivatives, the price of the PEPE part could find additional gas to hit the next ceiling.
Frequently asked questions (FAQ)
The thrust followed a morning star model and a strong momentum of the derivatives, supplied more by the explosive rupture of Bitcoin at $ 104,000, which raised the overall feeling of the market.
Based on fibonacci levels, the PEPE price could increase by 22% to reach the level from 38.20% to 0.000013344 $.
65% of Binance traders occupy long positions, increasing the long / short ratio to 1.86 and reflecting a strong bull feeling.
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