PEPE's current price is around $0.00000992, showing a 3.60% decline on the daily chart. Here's a detailed technical analysis¹:
- *Trend:* PEPE is in a bearish trend, with consistent selling pressure driving the price down. However, recent candles suggest a potential reversal.
- *Support Levels:*
- $0.000006658: A key Fibonacci support level
- $0.000004352: A potential breakdown level
- $0.000001741: The biggest support level
- *Resistance Levels:*
- $0.000013: A crucial resistance zone that could lead to a significant bullish breakout if breached
- $0.000014: A potential target level
- $0.00002789: A long-term target based on bullish structure
- *Technical Indicators:*
- RSI: Currently neutral, with some indicators suggesting oversold conditions that could lead to an upward trend
- MACD: Turned negative, indicating potential downward movement
- Aroon Indicator: Entered a downward trend, suggesting a strong downward move ahead
- *Potential Scenarios:*
- *Bullish Continuation:* A breakout above $0.000013 could lead to upside continuation, targeting $0.000014 or $0.00002789
- *Bearish Pullback:* Failure to break resistance may result in a retest of lower support zones, such as $0.000006658 or $0.000004352
- *Market Sentiment:* Open interest in PEPE futures has risen, suggesting leveraged traders are betting on further upside.
