Meme coin PEPE is showing signs of bullishness in a market currently filled with uncertainty. This bullish sign is reflected through PEPE’s projected breakout of the 800 EMA, which is a sign of bullish reversal. 

This bullish case for PEPE was first noted by a crypto analyst known pseudonymously as Slick on social media platform X. The 800 EMA, which has served as a significant resistance level for PEPE price uptrends, is now being tested again after a prolonged period below it.

PEPE Eyes 800 EMA Breakout After Weeks Of Rejection

PEPE is showing signs of a potential bullish reversal, with the price moving toward a critical technical level that could redefine its short-term trajectory. This critical technical level is highlighted through technical analysis of the 800 EMA indicator. 

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Since January 19, PEPE has consistently traded below the 800 EMA, a trend that has kept the price subdued despite several attempts to break higher. However, recent price action suggests that this prolonged bearish structure may be coming to an end.

The moving averages are converging more than the previous attempts. The current setup shows a stronger alignment between the short and long-term EMAs, which indicates weakening resistance and increases the probability of an upward breakout. However, this attempt to break above the 800 EMA is most convincing on the 15-minute candlestick timeframe and is yet to be evident on larger timeframes. 

Will This Snowball Into A Larger Timeframe Reversal?

The question is whether PEPE’s breakout attempt above the 800 EMA on the 15-minute chart will spark a broader shift in momentum across higher timeframes. Short-term breakouts like this serve as the primer for larger trend reversals, particularly when aligned with technical indicators such as the Exponential Moving Averages (EMAs). 

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A successful breakout here could bring higher timeframe levels into play, which would mean a longer-term bullish momentum. However, there’s still a risk of a PEPE price rejection at the 800 EMA, even on the 15-minute candlestick timeframe. As shown in the price chart above, this rejection has already happened twice this month, once at the start of January and again on January 11. 

However, the current test is more peculiar because other EMAs, including the 200 EMA, have now converged more closely than during the previous failed breakouts. This alignment suggests that resistance may be weakening and increases the likelihood of a decisive move higher.

At the time of writing, PEPE is trading at $0.000009829, up by 3.13% in the past 24 hours. The increase in the past 24 hours is a positive signal for PEPE’s breakout from the 15-minute 800 EMA to larger timeframes.

However, there is still work to do, as PEPE is currently down by 3.85% in a seven-day timeframe. There is also a notable resistance at $0.00001019 that could delay any further uptrend move.

Featured image from iStock, chart from Tradingview.com

• Goatseus Maximus (GOAT) and Celestia (TIA) are facing significant price declines.
• Poodlana (POODL) offers a low entry price of $0.003221, attracting new investors.
• Poodlana raised $8 million in presale, indicating strong demand and growth potential.

In the volatile world of cryptocurrency, investors are constantly searching for opportunities to recover from losses and capitalize on emerging trends.

Recently, many have been looking toward Poodlana (POODL), a Solana-based meme coin that is gaining traction as established cryptocurrencies like Celestia (TIA) and Goatseus Maximus (GOAT) face challenges.

As these established coins face challenges, Poodlana offers an attractive alternative for investors hoping to regain their footing in the market.

GOAT and Celestia face challenges

Goatseus Maximus (GOAT), currently ranked at position 146 by market cap, has recently experienced a significant downturn.

Currently priced at $0.5368, GOAT has seen a decline of approximately 4.4% over the past 24 hours, exacerbating its losses, which now stand at nearly 30% over the past month. Following the price decline, investor confidence has waned, leaving many seeking alternative investments that might offer better potential returns.

On the other hand, Celestia (TIA) has also faced its share of difficulties. Priced at $4.63, TIA has seen a notable decrease of around 7.4% in the last day, following the unlock of 176 million TIA tokens, which raised concerns among investors.

The token unlock event not only triggered fear, uncertainty, and doubt (FUD) in the market but also led to a price drop of about 9%. Analysts suggest that the failure to maintain the critical support level of $4.506 could trigger further declines, with potential selling pressure looming due to the significant token supply now in circulation.

Taran Sabharwal, CEO of the Stix trading platform, has attempted to reassure investors by clarifying that not all unlocked tokens will be available for immediate sale, as there is a 21-day unstaking period. However, the sentiment remains cautious, with many investors anticipating further declines in the short term.

Both GOAT and TIA have thus left their investors on edge, leading many to explore new opportunities.

Poodlana emerges as a promising alternative

Amidst the uncertainty surrounding GOAT and Celestia, Poodlana (POODL) emerges as a beacon of hope for investors looking to recoup their losses.

As a Solana-based meme coin, Poodlana has captured the interest of many due to its low entry price of $0.003221, offering significant growth potential compared to the more established cryptocurrencies. Poodlana has already demonstrated promise by raising $8 million during its presale, indicating strong demand and interest among investors.

The allure of Poodlana lies not only in its price but also in the favourable macroeconomic conditions projected for 2024.

Analysts anticipate a lower interest rate environment in the coming months, which could enhance liquidity in the market, thus favouring altcoins like Poodlana. Historically, meme coins have thrived in similar conditions, and with its strong foundation, Poodlana is well-positioned to benefit from these trends.

Additionally, the upcoming US presidential elections may catalyze the cryptocurrency market. Both major candidates have expressed favourable attitudes toward cryptocurrencies, potentially leading to a more supportive regulatory environment.

This political backdrop, combined with Poodlana’s already solid standing as a project built on the fast and cost-effective Solana network, adds another layer of appeal.

Moreover, Poodlana has gained visibility by being listed on three major exchanges: MEXC, Raydium, and BingX. This accessibility provides a broader audience with the opportunity to invest and increases its growth potential, particularly for those who may have missed the early gains of other meme coins like Dogecoin and Shiba Inu.

Conclusion

As investors from GOAT and Celestia grapple with the recent market challenges, Poodlana stands out as a promising alternative.

With its low entry price, strong presale success, and favourable market conditions on the horizon, Poodlana (POODL) presents an attractive opportunity for those looking to recoup losses and capitalize on future growth.

If interested in POODL, you can visit the official Poodlana website for more information about the project.

It was a good run until it lasted. The crypto market was having a blast last week, until it sharply nosedived by 3.06% to $1.01 trillion on July 25, Monday. Bitcoin together with Solana, Ether, and Polkadot were all knocked over at the start of the week.

Bitcoin was off-course and shaved off the gains it made over the past few days which allowed it to get to its glorious one-month high of $23,000 until it plunged below $22,000 levels on Monday.

As of this writing, Bitcoin is trading at $21,850, down nearly 5 percent in the last 24 hours, data from Coingecko show. 

Suggested Reading | Cardano (ADA) Spikes 8%, Overtakes XRP In Last 24 Hours

BTC Price Can Retest $25K In Coming Days

Bitcoin has been steady and holding it at the $23,000 level with very minimal drop in prices seen in the past few days especially with the sellers dominating the crypto market.

The crypto was able to successfully breach the ascending pattern and now retests the pattern’s resistance levels. BTC is now eyeing the next key resistance level at $31,300. The price could still hit the $24,000 level in the next couple of days, if not weeks.

BTC recently slid into a downside correction. A break under the key bullish trend was spotted closely at the $22,700 level for the BTC/USD pair. The pair is predicted to suffer a massive drop once it moves below $21,450.

If BTC cannot stay afloat or above $21,800, it may continue to drop. Support is seen to sit close to the $21,500 level. A close that happens below that may send the price way down or near $20,000.

BTC total market cap at $418 billion on the daily chart | Source: TradingView.com

Bitcoin Downtrend Due To Elon Musk BTC Announcement?

The downward trend of Bitcoin happened last week when Tesla CEO Elon Musk announced that he sold roughly 75% of his total BTC holdings.

Bitcoin was pushing above $24,000 but the bears caught up at the $23,800 zone. The last high was at $23,744 before it retreated. Following a quick rally, Bitcoin sharply dropped to the $22,000 level right after it has outstretched above $23,000 as seen in the past week. In spite of the decline in the selling pressure, BTC was able to maintain its 6% gains from the earlier week.

Well, BTC may potentially rise targeting the $24,000 level anytime soon following the surge in seller power. However, there is also a slim chance that BTC could plunge to the $20,000 zone especially if it dips below its current level.

Suggested Reading | TRON Bulls Are Back To Pump Some Energy Into TRX Coin

 

 

Early on Friday, Cardano (ADA) is trying to shake off its downbeat mood after losing almost 2% of its value over the past week and reclaiming the third rank in terms of market capitalization, supported by several interesting partnerships being announced during the Cardano Summit. At the time of writing, ADA/USD is trading at around $2.16.

The wider crypto sector received quite the hit about a week ago when China announced its latest crackdown against cryptocurrency transactions. This drove quite the sell-off across the board, causing market leaders Bitcoin and Ethereum to plunge and remain weak since then, while also causing ADA to lose its value.

Notable Fundamental Developments That Can Support Cardano

However, there are several factors that can support a rally in this cryptocurrency once the market sentiment strengthens. One of the most interesting fundamental developments is the announcement of an upcoming stablecoin backed by gold which will launch on the blockchain. Cardano-based protocol MELD is planning to tokenize gold and offer it up for fractional ownership on the network, bringing as many as nine million users across Nigeria onto the blockchain.

Meanwhile, the fundraising platform on the blockchain Kick.io is releasing today, aiming to become Cardano’s first fundraising and project accelerator platform, providing support to interesting projects being developed on its ecosystem. Kick.io will allow users to browse various projects and become early investors in the ones they wish to back, reaping enormous rewards once the projects they back take off and find success.

Institutional interest in Cardano also appears to be on the rise – a clear indication of its potential for growth in the coming months. Investment advisor for digital assets Wave Financial LLC recently acquired Cardano staking pool SkyLight which will now be operated via the company’s Wave Pool. This acquisition will allow Wave’s existing client base to stake their Cardano assets and leverage traditional ways to invest in cryptocurrencies and digital assets.

Meanwhile, Cardano has announced a new partnership with three time Grammy nominee Paul Oakenfold to launch his album as an NFT on its network. The popular DJ is collaborating with the blockchain’s co-founder Charles Hoskinson on this initiative and will offer not only the album but also its cover art and notes as digital collectibles to fans.

Key Levels to Watch

Taking a look at the H4 price chart of ADA/USD, we find a bullish bias among the smaller moving averages as well as leading technical indicators MACD and momentum. However, the larger timeframe MAs point to some possible selling pressure as well.

ADA/USD

Cardano’s price is sitting under the pivot point at $2.19, although it is still holding above the key $2 mark and the immediate support at $1.92. If more buyers jump in now, we could see the price climb towards the pivot point and beyond.