Cryptocurrencies Price Prediction: PEPE, Bitcoin & Crypto – European Wrap 16 September
|PEPE slides as whales lose interest, traders engage in profit-taking
PEPE (PEPE) posts losses for a third consecutive session on Monday as on-chain metrics show a sharp decline in large-volume transactions from whales and a spike in profit-taking in the last six days. Both indicators suggest that more downside for the meme coin’s price is likely, with PEPE currently trading at $0.00000731.
BTC/USD – Sell trade idea [Video]
Due to the breakout of the rising channel in the background and new momentum low on the RSI oscillator, I see potential for the further drop.
A new local peak in crypto?
The crypto market started the weekend on a positive note but has been unable to sustain gains in recent days, losing 2.8% in the last 24 hours to reach a capitalisation of $2.04 trillion. This retreat from the $2.12 trillion area looks like a new lower local high, continuing the March series, with the potential to return below $2 trillion and consolidate there.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.