Following an executive order speech named Liberation Day by the current president Donald Trump, the crypto market has reacted, pointing to reciprocal tariffs. According to the speech, a 10% baseline tariff is set for all imports, apart from goods that comply with the USMCA trade agreement. Brilyn Hollyhand’s post on X confirms that some nations will see tariffs as high as 49%, with foreign-made cars noting 25%. The 10% tariff takes effect on April 5, while reciprocal tariffs begin April 9.
Pepe technical analysis: MACD and RSI indicators
Pepe token’s price has dropped significantly, down 14% as of April 3. The token’s current trend, paired with recent market events, including potential influences like the Trump tariffs, raises questions about its future movement.
The Relative Strength Index (RSI) currently sits at 48.60. This level suggests that the token is nearing a neutral zone. A value under 50 indicates that the asset is neither overbought nor oversold, signaling potential further downward momentum if the market sentiment does not improve.
The Moving Average Convergence Divergence (MACD) shows a negative divergence, with the histogram in the red zone. This suggests a weak bearish momentum. The MACD line (-0.00000016) is also below the signal line (-0.00000019), further confirming the bearish outlook. These indicators point to the continuation of the current bearish trend for Pepe unless a major reversal occurs. The ongoing negative market sentiment is clearly reflected in the technical analysis.
The current market movement revealed
Pepe’s price experienced a notable drop of 15.42% on April 3, reaching $0.056608. The market cap is currently valued at $2.78B, with a 24-hour trading volume of $1.19B. A sharp price decrease started during the earlier hours, peaking around $0.07799 and then plummeting. This decline mirrors a bearish trend, raising questions about external factors, such as the potential influence of Trump tariffs.
The decrease involves high fluctuation of prices in the market and constant depreciation of the token. Pepe’s volume to market cap remained high at 43.29 %, showing that there was still a lot of trading in the stock as the price dipped. The total circulation supply of Pepe is equal to 420.68T with total supply of the same tokens. This coupled with the rising trading volume indicates that Pepe is in a volatile state of the market. By April 3, it is evidenced that the market remains volatile.
