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ChatGPT predicts the price of PEPE for the next week🐸
PEPE, like many memecoins, has seen significant volatility. But the burning question is: what’s next? Let’s take a closer look at the chart to understand the current trends.
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📊 Chart Analysis
Trendline and Resistance: PEPE is currently trading at around $0.00000755, where it is facing a strong bearish resistance line since early May 2024. Despite multiple attempts, it has been unable to break through, with resistance now at the $0.00000900 level.
Relative Strength Index (RSI): The RSI is at 37.41, indicating that PEPE is in oversold territory. While a bounce may be possible, the RSI alone is not enough to confirm a trend reversal.
MACD Indicator: The MACD line remains below the signal line, both in negative territory, which usually indicates bearish momentum. However, the chart shows a slight decrease in selling pressure, which may indicate that the worst is over.
🔮 Price predictions
Looking at the current chart patterns, PEPE is struggling to gain upward momentum. A break above the 0.00000900 resistance will be a bullish sign, which could lead to a rally towards $0.00001718. On the other hand, if PEPE fails to break this resistance, it could drop to the support levels around $0.00000600 or lower.
Investors should monitor the RSI and MACD for possible signs of a trend reversal. At the moment, caution is recommended.