Crypto Forecast: AVAX Bullish, PEPE Faces Downtrend

AVAX's Potential Upswing

Michael van de Poppe, a prominent crypto trader, has expressed optimism about Avalanche (AVAX), suggesting a possible price increase if it remains above $14.80. This altcoin is currently showing a bullish divergence, which could be confirmed if Bitcoin's movements align favorably. At present, AVAX is trading near this key level, having experienced a 2.97% price increase, signaling positive momentum.

Challenges Ahead for PEPE

Conversely, van de Poppe predicts a challenging period for the meme coin Pepe (PEPE). The coin is currently on a downtrend, with resistance levels acting as potential shorting opportunities. If PEPE cannot maintain its position above $0.0000016, it may face further declines. The trader suggests shorting PEPE as it could fall to $0.00000147 or even lower.

Current Market Data

As of the latest data, PEPE is trading at $0.000001568, following a 0.40% decline in the past 24 hours. This drop has contributed to a weekly performance of -6.88%. Meanwhile, AVAX shows resilience, reflecting a favorable market sentiment at its current price of $14.78.

Strategic Insights

For traders, these predictions highlight crucial price levels to monitor. AVAX's performance hinges on surpassing $14.80, while PEPE's inability to hold above $0.0000016 could spell further losses. Investors are advised to conduct thorough research and consider these insights when making trading decisions.

This analysis reflects the trader's views and is intended for informational purposes. Conduct due diligence before making any trading moves, as market conditions can change rapidly.