Widely followed pseudonymous trader Altcoin Sherpa says one Dogecoin (DOGE) rival could make a bigger move to the upside.
Altcoin Sherpa tells his 196,400 followers on the social media platform X that after breaking through a key resistance level, memecoin Pepe (PEPE) may not be done rallying.
“PEPE: nice move today, I didn’t really see this one coming. The volume profile shows three significant resistance areas, with the first one getting broken now. I highly doubt this is a full reversal, but a bit more upside may be in store. Would be cautious with this one overall.”
Looking at his chart, the next resistance level appears to be between the price range of $0.00000078 to $0.000000820.
Pepe is trading for $0.000000716 at time of writing, up 16.9% in the last 24 hours.
Next, the trader weighs in on Bitcoin (BTC) and says the market remains unclear as key exponential moving averages (EMAs) converge just above the crypto king’s price, acting as resistance.
“BTC one-day thoughts: overall market structure hasn’t changed much IMO (in my opinion). We’re still either forming some sort of weird higher low OR consolidating for the next leg down. The cluster of one-day EMAs all acting as resistance for now, but no clear change.”
The trader predicts Bitcoin will decline to finish out the year.
“I don’t personally have a super strong opinion in regards to where price goes. Gut says we move up to $28,000 in the mid-term, but I don’t really know. The last recent hig
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Author: Daily Hodl Staff
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