$PEPE
Technical Outlook and Trader Sentiment
Technical analysis of PEPE’s price chart reveals several warning signs. To complete the bearish double top pattern, PEPE price must drop to the $0.00001274 neckline and break the short-term support trendline at that level.A four-hour candlestick close below this neckline would confirm the breakdown. In such a scenario, the pattern projects a 25% crash to $0.00001063, calculated by adding the double top’s height to the neckline.The Relative Strength Index (RSI) shows bearish divergence as it declines from the overbought zone to the halfway line during PEPE’s uptrend. The MACD and signal lines are falling after a negative crossover, suggesting growing bearish momentum.However, trader sentiment remains overwhelmingly positive. Despite the short-term pause in PEPE’s rally, futures markets show heightened optimism for an uptrend continuation. The Open Interest (OI) maintains a near record-high level at $583 million, indicating strong trader engagement.On Binance, 72% of PEPE traders hold long positions, pushing the Long/Short ratio to 2.57. This extreme bullish tilt could be dangerous if the price continues to correct, potentially leading to a cascade of liquidations. One trader on Hyperliquid opened a $2.3 million long position on PEPE with 3x leverage, showing substantial confidence in future price increases. Meanwhile, crypto analyst CryptoKaleo suggested that the memecoin could consolidate before potentially surging toward a market cap between $10 billion and $20 billion.If PEPE breaks past the immediate resistance and closes a daily candle above $0.0000159, it could gain another 31%, potentially reaching the next resistance around $0.00001946 to $0.00002000.The most recent data shows that in the past 24 hours, PEPE’s trading volume has dropped by over 20%, and open interest has declined by 11.42%. As a result, more than $4.71 million in long positions have been liquidated.PEPE’s price may find support at the $0.00001050 to $0.00001200 range
