Cryptocurrency Analyst CrediBULL crypto provided a market analysis on Pepe (PEPE), ethereum/ethereum-price-headed-to-4000/#:~:text=crypto%20analyst%20Linda%20has%20made,to%20such%20a%20price%20surge.” rel=”nofollow noopener” target=”_blank”>ethereum (eth)and XRP. According to his analysis, PEPE could reach a new high very soon, seeing how it has varied since reaching a new high. All-time high (ATH) In May.
A rebound in PEPE prices is expected
CrediBULL Cryptocurrency mentioned in an x (formerly twitter) x.com/CredibleCrypto/status/1818908795151507859″ rel=”nofollow” target=”_blank”>mail that PEPE has held up pretty well despite the bearish trend in the broader cryptocurrency market. As such, he added that he won’t be surprised if the meme coin experiences another push to grab some untapped liquidity before moving ahead with the market. bitcoin/bitcoin-price-down-today/#:~:text=One%20of%20the%20major%20factors,being%20orchestrated%20by%20large%20governments.” rel=”nofollow noopener” target=”_blank”>current downtrend in the market.
The analyst also revealed that he has no plans to open a long position in PEPE However, he will continue to watch how things develop. According to the chart shared by CrediBULL crypto, PEPE could rise as high as $0.00001382 as it takes advantage of the untapped liquidity that the analyst mentioned.
Meanwhile, CrediBULL crypto predicts that the meme coin could fall to $0.00000570 if it were to do the “bigger move down”, the analyst anticipates after the bullish rally. However, a rally in the bitcoin market and the cryptocurrency market in general could invalidate this bearish setup of the analyst.
What's next for ethereum and XRP?
CrediBULL crypto predicts that ethereum/analyst-predicts-ethereum-nosedive-cautions-investors-to-prepare-for-2700-target/” rel=”nofollow noopener” target=”_blank”>ethereum could fall below $2,800 Very soon. He made this prediction while revealing that he had cut his short positions in anticipation of a relief bounce that ultimately did not occur. He revealed that he will not be looking to reopen any short positions for ethereum in its current price range as such a relief bounce could still occur at these levels.
If that relief bounce occurs, CrediBULL crypto mentioned that it would look to reopen its short position. Meanwhile, the analyst continues Optimistic about ethereum in the long term. He revealed that he expects ethereum to fall to new lows as that will give it another chance to recharge. CrediBULL crypto had ethereum-20000/” rel=”nofollow noopener” target=”_blank”>Previously predicted that ethereum would rise to $20,000 in this market cycle.
For XRP, CrediBULL crypto x.com/CredibleCrypto/status/1815497407129669776″ rel=”nofollow” target=”_blank”>mentioned that his previous analysis of XRP remains valid and nothing has changed. In his previous analysis, he stated that XRP is still in a range-bound environment and suggested that he was not looking to trade the crypto token at the moment. However, he added that he would be interested in a potential trade if XRP drops to $0.50 or even as low as $0.39.
CrediBULL crypto suggested that XRP could still fall to those lows, noting that bitcoin-sentiment-positive-bad-sign-price/” rel=”nofollow noopener” target=”_blank”>crypto token had experienced the pump, which had taken it above the local highs, something he said he expected before a pullback into the green zone, which he highlighted on the charts.
Featured image created with Dall.E, chart from Tradingview.com
