Pepe Coin (PEPE) is back in the spotlight – despite the bearish market, it has seen a significant 15% increase in open interest, now totaling $539 million. This suggests that traders are betting on a potential recovery. As the price hovers around $0.00000885, the market is watching closely to see if the token can fill the Fair Value Gap (FVG) near the $0.0000115 level.
🔹 The FVG has a historical fill rate of 92% on daily charts, making it a statistically likely reversal point.
🧠 Why Is the FVG So Important?
Following a sharp decline in mid-June – where PEPE dropped from $0.0000134 to $0.0000112 – a Fair Value Gap formed, a zone often acting like a magnet for prices before the prevailing trend resumes.
If PEPE manages to retest this area, its first target would be $0.0000115. A decisive close above the midpoint of this gap – often called the “entry trigger” – could mark the beginning of a bullish reversal.
📉 RSI and AO Show Mixed Signals
The Relative Strength Index (RSI) is approaching oversold territory at around 31, potentially signaling seller exhaustion and opening the door to a bounce.
However, the Awesome Oscillator (AO) paints a more cautious picture, with red histogram bars deepening in the negative territory – indicating that downward momentum may still be gaining strength. Traders are advised to wait for a confirmed flip.
🚀 Open Interest Jumps by $90 Million
According to Coinglass, PEPE’s open interest surged by $90 million in 24 hours, highlighting strong futures trading interest. Moreover, the funding rate remains positive, signaling that most traders are opening long positions in anticipation of a rebound.
This bullish divergence between price action and open interest is considered a strong indicator of a potential price recovery.
⏳ Critical Moment Ahead
Pepe Coin is currently at a major technical junction. Either it will fill the FVG and rally toward $0.0000115, or it will collapse under bearish pressure. The outcome of the next 48 hours will be crucial for its short-term direction.
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