- Robinhood sold a remarkable amount of Pepe, so that the downward pressure was fueled on the asset
- Despite the sales volume, Pepe kept his levels on the graph
Pepe’s price has continued to rise in the charts, despite the fact that the whales discharge a considerable part of the asset on the market. In fact, in contrast to perceptions, The analysis of Ambcrypto revealed that the 8% rally of the last 24 hours of the Activum could indicate the start of a more significant movement.
However, how will the market react? And what are the opportunities?
Whale -free -buying
A wallet linked to the US-based cryptocurrency exchange Robinhood saw remarkable liquidity outings for the past 24 hours.
This entity has sold around $ 15 million in Pepe on the market. They usually follow, when large entities are sold out, with a level of return within the same period. However, that has not been the case here.
Source: Arkham
Despite the sale, however, Robinhood remains the second largest holder of Pepe, which controls 3.67% of the supply value of $ 209.9 million.
It is interesting that Pepe has retained its price even after this sale, with market analysis that suggests that token could continue to rise in the coming days.
Pepe’s look remains bullish
Ambcryptos’s short and long -term prospects on the memecoin revealed that it remains active on both timetables Bullish.
Short-term analysis with the help of the 4-hour graph revealed that Pepe was traded within a symmetrical triangular pattern, characterized by converent support and resistance levels.
Source: TradingView
This bullish formation can push Pepe up by 12.24%and possibly reach $ 0.00001541.
A wider prospect with the help of the 1-day graph showed Pepe trade within a cup and hand pattern.
Just like the symmetrical triangle, this pattern is also a bullish precursor. In this case, however, the price must break the black resistance line at $ 0.00001483.
Source: TradingView
If this is the case, Pepe could collect with 91% up to $ 0.00002836 – a level that is last seen in December 2024.
The most important question now is whether it can actively collect sufficient momentum to break through that resistance.
Is building momentum building?
Well, at the time of writing, the momentum seemed to grow on both the spot and derivatives markets.
On the spot market, buying interest is gradually rebuilt, with Pepe bought for $ 335,000 so far.
Source: Coinglass
In the derivatives market, the OI-weighted financing speed was 0.0127%, which confirmed the presence of bullish sentiment.
If the momentum continues to climb over both market segments, Pepe could see a remarkable rally. By doing this, it could hit his short -term goal and approach his long -term goal.