PEPE’s 175% rise continues, will it reach 200%? Bitcoin (BTC) loses $70,000 again, for how long? Is Solana (SOL) entering a correction?

PEPE's 175% rise continues, will it reach 200%?  Bitcoin (BTC) loses $70,000 again, for how long?  Is Solana (SOL) entering a correction?

PEPE has received a lot of hate and praise in the past. The questionable composition of the holders was a big red flag for the meme asset that ended the momentum it was gaining in early 2024. However, as time passed and funds were redistributed, PEPE had a chance to recover. and he took advantage of it.

Content
Advertisement

PEPE has received a lot of hate and praise in the past. The questionable composition of the holders was a big red flag for the meme asset that ended the momentum it was gaining in early 2024. However, as time passed and funds were redistributed, PEPE had a chance to recover. and he took advantage of it.

In the last few days, PEPE has risen an impressive 175%. The reason behind that rally is most likely part of the improving sentiment among traders and investors. PEPE’s momentum is enormous, almost all resistance has been overcome and it is not clear what could stop it, unless there is profit taking.

PEPEUSDT
TradingView PEPE/USDT chart

The moving averages on the chart provide more information. The 50-day moving average (blue line) has crossed above the 200-day moving average (orange line), forming a “golden cross.” This is often seen as a bullish indicator, suggesting that the current uptrend could continue. Furthermore, trading volume has been high, reinforcing the bullish sentiment.

HOT Stories
PEPE's 175% rise continues, will it reach 200%?  Bitcoin (BTC) loses $70,000 again, for how long?  Is Solana (SOL) entering a correction?
PEPE’s 175% rise continues, will it reach 200%? Bitcoin (BTC) loses $70,000 again, for how long? Is Solana (SOL) entering a correction?
‘Totally absurd’: Scaramucci defends Bitcoin evangelist Saylor against critics
Introducing Grayscale Updates for Ethereum Mini Trust
Explosive 17,400% Bitcoin Surge Noticed by Gabor Gurbacs, Here’s the Question He Asks

Currently, moving averages offer additional information. With the golden cross intact, bullish PEPE holders could begin increasing their positions, which is expected to boost its value further. The volume is also there, which creates a good base for the price.

The Relative Strength Index (RSI) is currently at 72, indicating that PEPE is in overbought territory. Of course, it may cause a possible pullback, but it is unlikely to affect the long-term situation as the RSI tends to dip and rise quite frequently.

The possibilities of Bitcoin at $70,000

Despite the enthusiasm, Bitcoin was unable to maintain its value above $70,000. It has now fallen below this planned threshold. Currently, BTC is trading around $69,700. There is always the possibility of a rebound. This is why.

Bitcoin recently reached the $70,000 mark. He was unable to hold onto it, slipping below that level. However, there are reasons to believe he could return.

On-Chain Metrics: Data indicates that 97% of BTC holders are making profits at this price. This suggests that many long-term investors are doing well financially, creating a foundation that may prevent significant sell-offs.

Related

Sunday, 05/19/2024 – 12:06
Mysterious Solana (SOL) transfer worth $1.9 billion draws attention

Whale concentration: Eleven percent of BTC ownership belongs to large holders, known as “whales.” This lower concentration helps mitigate the risk of large-scale sell-offs that could negatively impact prices.

Transaction volumes: Notable transactions exceeding $100,000 totaled $93.77 billion for the week. This increased activity among investors is a sign. Furthermore, the fact that foreign exchange inflows and outflows balance out at around $9.7 billion indicates that investors are not rushing to cash out their holdings.

Market Overview: The overall outlook appears optimistic, supported by encouraging developments such as the possibility of ETF approval and growing investor attention. Bitcoin usually follows these patterns, which could push it to surpass the $70,000 mark again.

Solana got 180 dollars

Solana remains one of the strongest assets on the market right now. The “Ethereum killer” has pulled back massively in the past, leaving investors in disarray, even with SOL at $140. However, after reaching $180, profitability increased, but will it continue?

Solana could be facing a correction phase. Technical indicators, such as the RSI, are approaching overbought levels, suggesting that the asset could suffer a pullback. Furthermore, the price has reached a key resistance level that could trigger profit-taking among short-term traders.

Related

Sat, 05/18/2024 – 1:00 p.m.
Solana (SOL) Ranked Fastest Blockchain: Details

Obviously, a correction phase is possible; Technical indicators like the RSI are near overbought levels and key resistances are broken, which could trigger profit-taking, and sentiment indicators suggest an upcoming correction.

Historical data indicates that Solana has experienced strong corrections after significant rallies. The current market environment, with its inherent volatility, increases uncertainty. While Solana’s fundamentals remain strong and its ecosystem continues to grow, these factors do not completely protect it from short-term market corrections.

If Bitcoin and other major cryptocurrencies show signs of weakness, Solana could also face downward pressure. The interconnectedness of the cryptocurrency market often means that a drop in leading assets can trigger corrections in altcoins.

Leave a Reply

Your email address will not be published. Required fields are marked *

Best Exchanges
Buy, trade, and hold 600+ cryptocurrencies on Binance
Buy, trade, and hold 450+ cryptocurrencies on ByBit
Buy, trade, and hold 150+ cryptocurrencies on Kucoin
Buy, trade, and hold 100+ cryptocurrencies on BitFinex 
Buy, trade, and hold 150+ cryptocurrencies on CoinBase

Guru Investing is an independent source of information about investing , not controlled by any broker. All our reviews and guides are created honestly, according to the best knowledge and judgement of the members of our independent expert team; however, they are intended for informative purposes only and should not be construed as, nor relied upon as, legal advice. You should always make sure that you meet all regulatory requirements before making any financial operations . Copyright ©2024 Email for contact [email protected]
pornhd.com hindisexyporn.com kashmiri girls sex jayasex indaporn.info desi bhabi xxx xlnindia sexo-vids.com 1st time sex video たかはししょうこ動画 javfuck.mobi 真正中出し3本番 彩乃なな sex film sexy film xxxhindividoes.com xnxx indian teens
ano nga ba ang pangarap iwantmoreteleserye.com hello heart episode 3 reshma hot saree images nuporn.mobi xvidies com bihar chudai tubezaur.mobi heroine photo hot dasixx hardcoreporntrends.com ileana d'cruz hot photoshoot www.xxxsexvideo.com xbeegtube.mobi hindi movi
www sxe vidoes erohardcore.info boops sucking dehati fuck kitporn.info chuk chuk rail fuckcomix.com mojoporntube.net gujaratisexvidio probinsyano october 18 2021 full episode freeteleseryetv.net ang probinsyano july 14 2022 قصص سكس كرتون cmsextra.net سكس بنات تخينة