MemeCoinNews

$PEPE

PEPE’s Rally Slows Down as Musk Effect Fades
The popular meme coin PEPE saw a brief price surge of 12% earlier this week, driven by Elon Musk’s attention-grabbing move on X. Musk changed his profile name to “Kekius Maximus” and adopted a warrior-themed Pepe the Frog avatar referencing the game Path of Exile. However, the excitement has proven to be short-lived, as PEPE has already begun to lose its momentum.
A Short-Lived Musk-Driven Boost
On Tuesday, Elon Musk’s profile transformation triggered a wave of optimism around PEPE, pushing the coin’s price up by 12% during the trading session. This hype, however, has not translated into sustained growth. Over the past 24 hours, PEPE’s price has declined by 4%, reflecting fading enthusiasm among traders.
Despite the price drop, PEPE’s trading volume surged by 31%, a phenomenon that often indicates increased selling pressure. When trading volumes rise as prices fall, it typically suggests that more participants are offloading their positions, signaling speculative rather than fundamental demand for the asset.
Spot Outflows Signal Weak Demand
Reinforcing the bearish sentiment, PEPE experienced significant spot outflows. According to Coinglass, $6.34 million worth of PEPE was withdrawn from the spot market in the last 24 hours, compared to $45 million in inflows earlier this week. Spot outflows occur when more assets are being sold or withdrawn than bought, reflecting declining interest from investors and traders.
Technical analysis further highlights the challenges ahead. PEPE’s Super Trend Indicator, a key metric for tracking market trends, sits above the current price at $0.000024, acting as a resistance level. This bearish signal suggests that breaking through this level will be difficult without renewed momentum.
What’s Next for PEPE?
If the downtrend continues, analysts predict that PEPE’s price could drop to $0.0000017, testing its lower support levels. Conversely, should the coin manage to overcome the $0.000024
resistance,

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🚀 **Ethereum ($ETH ) 1-Hour Chart Breakdown** 📊🔥

**🔹 Current Price:** $2,708.81
**🔹 Timeframe:** 1H (Hourly)
**🔍 Market Overview:**
Ethereum is currently challenging a crucial resistance zone around $2,710. Let's examine potential scenarios for a breakout or a reversal to help navigate your next move!
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🔥 **Bullish Breakout Strategy** 💪
**✅ Entry Point:** Consider buying above $2,720 if the price decisively breaks and sustains above resistance.
**🌟 Profit Targets:**
- **Target 1:** $2,750 – Testing the next resistance level.
- **Target 2:** $2,780 - $2,800 – Approaching a psychological barrier.
- **Target 3:** $2,850+ – If bullish momentum accelerates, further gains could follow! 🚀
**🛑 Stop-Loss:** Place at $2,670 to protect against unexpected reversals below key moving averages.
**📊 Bullish Indicators:**
- **RSI:** 62.18 – Suggests building bullish momentum.
- **ADX:** 32.14 – Indicates a strong trend in place.
- **Volume:** Increasing activity suggests bulls are eyeing a breakout!
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🔴 **Bearish Rejection Scenario** 🚫
If Ethereum struggles to break past $2,710, a rejection might lead to a downward correction.
**❌ Entry Point:** Short below $2,670 if the price shows signs of weakness.
**🌟 Profit Targets:**
- **Target 1:** $2,640 – First support level.
- **Target 2:** $2,600 – Deeper retracement if selling pressure continues.
**🛑 Stop-Loss:** Set at $2,730 to limit losses above the rejection zone.
**📊 Bearish Indicators:**
- **RSI:** Approaching 65, indicating potential overbought conditions.
- **Resistance:** Strong seller activity expected between $2,710 - $2,720.
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📆 **Pro Trading Insights:**
- ✔️ Always wait for a confirmed candle close above/below key levels before entering.
- ✔️ Use stop-losses strategically to guard against false breakouts.
- ✔️ Keep an eye on volume and RSI to validate trends.
- ✔️ Practice solid risk management—avoid over-leveraging in volatile conditions!
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