#MemeWatch2024 #pepepumping

Ratio Strength Index RSI#pepecoin🐸

The Relative Strength Index (RSI) provides additional insight into market momentum by measuring the magnitude of Pepe's price movements to determine whether it is overvalued or undervalued. Market traders use the RSI as a momentum indicator to identify conditions of overbought or oversold, and to decide to accumulate or sell assets. Readings above 50 and an uptrend indicate that bulls still have a point of strength, while readings below 50 indicate the opposite.

According to the RSI, in the 1-week candle time frame, Pepe Coin is currently trending bullish with the actual RSI reading at 64.04. The 50 line could provide support if the indicator returns to it.

Moving averages

Moving averages are an important analytical tool that provides traders with a bigger picture of what is happening in the charts by calculating the average closing price of the Pepe coin over a specific time period. The relationship between the short-term and medium-term moving averages is crucial in determining the direction of the trend. When the short-term moving average moves above the long-term moving average, this indicates that the trend is gradually turning bullish.

In the weekly SMA time frame, Pepe price is in a moderate trend since the 50 period moving average has crossed the lower of the 200 period moving average and the price is trading above both.$ baby