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Moonwell price has soared 93% over the past month after surging 18% over the past 24 hours to trade at $0.04836 at 7:25 a.m. EST on a 162% increase in trading volume to $12 million.
Moonwell Price Signals New Uptrend
The WELLUSD chart shows a strong bullish reversal, with a double bottom pattern forming around the $0.030 level. This trend usually signals a shift from a downtrend to an uptrend, which was confirmed once the price broke above the neckline.
After this breakout, the price skyrocketed, now sitting around $0.04909, suggesting the start of a potential uptrend.
The price has already surpassed the 50-period moving average, currently at $0.03448, indicating that short-term bullish momentum is in play. On the other hand, the 200-period moving average, located at 0.03106 $, is well below the current price, highlighting long-term bullish sentiment.
The growing gap between Moonwell price and these moving averages only reinforces the strength of this bullish movement.
WELLUSD analysis source: Dextools.io
The MACD supports this bullish outlook. With the MACD line located above the signal line and the histogram bars expanding, buying momentum is evident, confirming the strength of the upward price movement.
However, the RSI, currently at 71.47, is in overbought territory, meaning that even though the market is under strong upward pressure, a short-term pullback or consolidation could be on the horizon as buyers may start to lose speed.
Looking at key price levels, support is likely to hold around the previous double bottom zone near $0.030. If price pulls back, the 50-period MA at $0.03448 could provide another important support level. On the other hand, resistance is likely around $0.05, which could test the real strength of this uptrend.
Price action appears bullish after the reversal, with indicators pointing in the same direction. However, with the RSI showing overbought conditions, traders should be aware of potential short-term corrections.
Pepe Unchained Eyes Eyes $20 Million Milestone: Best Coin to Buy Now?
The bullish sentiment found around Moonwell is also evident in the nnew Pepe Unchained (PEPU) coin, which just surpassed $19.4 million in funds raised in what became one of the most successful pre-sales of the year.
Popular YouTuber ClayBro, who has over 130,000 subscribers, says investors should prepare for massive gains for PEPU once it launches
Pepe Unchained differentiates itself from the masses of meme coins by offering its own layer 2 blockchain. The idea behind this is that this proprietary network will “unchain” the OG PEPE coin from its cumbersome, slow and expensive Ethereum blockchain.
By creating its own layer 2 blockchain, PEPU can offer up to 100x faster transactions while significantly reducing gas fees. It also maintains full compatibility with existing Ethereum decentralized applications and services (dApps).
The golden-brained frog is preparing for the L2 launch.
Join our official telegram to stay with the community! pic.twitter.com/8hJQ7IuvJh
– Pepe Unchained (@pepe_unchained) October 5, 2024
Pepe Unchained also launched the “Frens with Benefits” program, which aims to nourish its ecosystem. This program provides grants to developers to attract new talent to facilitate substantial dApp development on the Pepe channel.
Investors also have the option to stake $PEPU tokens for an annual return of 113%. More than 1.4 billion PEPE tokens have already been staked.
PEPU tokens cost $0.00998 each and can be purchased using $ETH, $USDT, $BNB or a bank card. Buy before a price rise in just over a day to get the best deal.
You can buy PEPU tokens on the official website here.
Related articles:
Most Wanted Crypto Launch – Pepe Unchained
- Layer 2 Coin Ecosystem
- Featured in Cointelegraph
- SolidProof and Coinsult audited
- Faceoff Rewards – pepeunchained.com
- Over $10M Raised at ICO – Ending Soon
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