Crypto Patel recently shared an analysis, shedding light on a notable development for PEPE. According to Patel, the cryptocurrency broke below a crucial support level, leading to a marked price decline. A detailed look at the chart from TradingView shows the PEPE/USDT pair on Binance, with 15-minute candlesticks providing a granular view of the price action.
A blue trend line, connecting higher lows over time, had been serving as a support level for PEPE. However, this support was breached, as indicated by an orange circle on the chart. Following the break, PEPE experienced a significant downward movement, marked by a red arrow on the chart. This drop amounted to a decrease of 0.00000096, equivalent to a 5.82% decline.
Volume analysis further supports the bearish sentiment, with an increase in trading activity during the breakdown, suggesting strong selling pressure. Despite the decline, PEPE’s current price stands at $0.00001631, representing a 3.65% drop over the last 24 hours. However, on a weekly basis, PEPE has seen a substantial increase of 48.83%, reflecting its volatile nature. With a circulating supply of 420 trillion PEPE, the market cap is valued at $6,844,115,432.
Clifton, another analyst, reported an upside breakout for KAVA on the 12-hour timeframe, indicating a completed retest and potential for further gains.
Adding to the bullish outlook, Crypto Tony highlighted $17.30 as a critical support level for LINK. Maintaining above this level is crucial for sustaining the upward trajectory. The recent price action suggests that LINK is performing well, with a steady increase in value reflecting positive market sentiment.
Whale Wallets Signal Future Trends for Bitcoin, Ethereum, and ChainlinkChainlink’s price is currently at $18.25, supported by a robust 24-hour trading volume of $967,297,609.85. This price point marks a 6.49% increase in the last 24 hours and an 8.05% rise over the past week. Chainlink’s circulating supply stands at 590 million LINK, translating to a market cap of $10,711,635,264.
