Bears Won't Let $PEPE Catch a Break 🐻🐸
After dropping over 12% last week, Pepe’s price saw another decline on Monday 📉.
According to $PEPE’s long-to-short ratio, most traders are betting that this frog-themed meme coin will continue to fall 👎. Technical indicators are also signaling further downside as momentum indicators weaken ⚠️.
Currently trading around $0.000012 after a 12% decline last week, PEPE dropped nearly 10% on Monday. The long-to-short ratio is below 1, indicating that the majority of traders are expecting further downside 📊. Momentum indicators suggest the price could drop another 20% ⬇️.
Pepe Bears Expect a 20% Drop 🚨
On January 18, Pepe’s price rejected a declining trendline (connecting December highs) and fell by almost 30% by Sunday. It closed below its 200-day Exponential Moving Average (EMA) at $0.000014 and has since dropped to around $0.000012 as of Monday.
If PEPE continues its correction and closes daily below $0.000013, it could decline by about 20% more, testing its November 8 low of $0.000010 🔻.
Technical Indicators at a Glance:
RSI (Relative Strength Index):
The daily RSI stands at 31 and is trending downward, signaling strong negative momentum. It’s not yet in the oversold zone, so further decline is possible ⚡.
MACD (Moving Average Convergence Divergence):
The MACD shows a bearish crossover, indicating a sell signal 📉.
Traders should remain cautious as $PEPE’s price could continue to slide further.
