PEPE Faces Downside Pressure: Bulls Struggle to Make Up Ground on Bears, and the Approaching Bitcoin Halving Raises Anticipation!
-Recent market movements:
PEPE has exceeded the low daily volume (dVAL)
The next key level for bears is monthly low volume (mVAL)
- Details to be considered:
Current Resistance: Daily VAL now acts as resistance at 0.0000075
Bearish target: monthly value is below 0.0000066
The challenge: aim for a bounce above dVAL to regain momentum
- Technical Indicators:
The RSI fell below the neutral 50 line, hinting at increased selling pressure
Watch for RSI divergence which could signal a possible reversal or further decline
*Business Tip:
Consider bearish scenarios with caution; look for signs of a bounce in mVAL for possible entries 🔍
For bulls, a clear break above dVAL could signal a change in the wind 🌬️
* Market sentiment:
Current sentiment is leaning downward; however, volatility could create opportunities for quick action ⚡️
* Next steps:
Keep an eye on volume and price action on mVAL for signs of support or breakout
Quickly adapt to market direction – agility is key in these conditions! 🏃♂️
Do you think PEPE will go even higher in the future or are there more downsides to come?
