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Following the bubble burst, PEPE is urgently seeking support.
Key Support levels: $0.0000011
Key Resistance levels: $0.0000020
PEPE’s upward movement swiftly concluded after surpassing a market capitalization of $1 billion. Bubbles necessitate increasingly larger amounts of capital to keep expanding, and for this meme coin, the funds depleted in early May. Since that time, the price has plummeted by 70%.
The next significant support level for PEPE is at $0.0000011, where there may be renewed interest from buyers. The current resistance stands at $0.0000020.
Chart by TradingView
Trading Volume: In recent days, sellers have been predominant throughout the market. Both the volume and price have closed in the negative over the last three days.
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RSI: The daily RSI has dropped below 50 points, with no indication of a potential reversal at this time. This trend is bearish.
MACD: The daily MACD executed a bearish crossover on Monday, and since then, the price has continued to create lower lows.
Chart by TradingView
Bias
The prevailing bias for PEPE is bearish.
Short-Term Prediction for PEPE Price
It is crucial to observe how the price behaves upon reaching the key support level. Should buyers show interest, PEPE might rebound from that level to challenge the key resistance at $0.0000020.
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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
