Pepe $PEPE
At the time of writing this analysis, PEPE is trading at $0.00001257, staying above the important support level of $0.00001216.
Recently, the altcoin broke the support at $0.00001389, leading to partial profit loss. This dynamic indicates potential short-term volatility for PEPE.
For the past nine days, PEPE has been in an accumulation phase — this means that investors see potential in it. Although the price fluctuates slightly, a significant decline is unlikely.
If PEPE manages to bounce off the level of $0.00001216, it will have a chance to recover and test the level of $0.00001389 soon.
If PEPE breaks the support level at $0.00001216, the price risks falling to $0.00001152 or lower. This could intensify bearish pressure, negating the bullish outlook and indicating potential losses for investors.
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Convex Finance $CVX
CVX showed strong growth last week, increasing nearly 21% in the last 24 hours. This indicates growing popularity for the altcoin and potential for further growth in the near future.
At the time of publication, CVX is trading at $5.85 and testing resistance at $5.88.
The parabolic SAR below the candles indicates a bullish trend that could push the price above $6.00 if the upward movement continues.
However, if CVX faces bearish conditions, the price may fall to $4.16, offsetting recent gains. A drop below this support level will negate the bullish scenario and indicate potential downside risks for the altcoin.
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Tezos $XTZ
At the time of writing, XTZ is trading at $0.89, holding its position above the key support at $0.87. This stability is related to an accumulation phase that has lasted for four days, which may indicate preparation for growth.
The 50-day and 200-day EMA are approaching a 'golden cross' — a bullish signal that may herald further growth.
If the 50-day EMA crosses the 200-day EMA from above, it will likely push the price of XTZ above $0.99 and possibly up to $1.08, reinforcing the upward trend.
However, if XTZ does not hold the support at $0.87, the price may drop to $0.76. A fall below this level will negate the bullish outlook and may signal further declines.
