- The token price has surged down to 2.81% in the last 24 hours.
- The coin price is in a continuous downtrend.
- The price has recently made an all-time low of $0.00000060.
Technical Analysis of PEPE Coin
PEPE (PEPE/USDT) coin is currently trading at $0.00000062 at the time of writing. The market capitalization of the coin is around $244.43 Million and has traded with a volume of $35.93 Million in the last 24 hours. The coin faced a decline of 2.81% within the last 24 hours.
The PEPE coin price has been facing a decline in its price since the start of July 2023. The price has recently given the breakdown of $0.00000081 from where a strong buying was initiated by the buyer in mid-June 2023.
The price is usually following a pattern where it consolidates in a narrow range. After the consolidation phase, it gives the breakdown of the narrow range and gives a bearish move of more than 10$. Recently the price has formed a narrow range above $0.00000060 and is trading inside it.
If the price breaks below the $0.00000060 level then it may continue its fall to its next possible support at $0.00000040.
However for the price to be bullish sentiment it must reclaim the $0.00000081 support. If the price reclaims the $0.00000081 level buyers can push the price in an upward direction due to the previous buying from this level. Then the price could rise up to its $0.00000114 resistance.
Technical Indicators on Current Trend
In the 4-hour timeframe, the PEPE coin price is trading below the 50 and 200 exponential moving averages. This indicates the sellers are dominating the price and have maintained the bearish sentiment in the PEPE chart.
The relative strength index is at 41.14. As we can see from the previous history the RSI line starts to slop in the downward direction after taking resistance from the 50 RSI level. Recently the RSI line has done the same thing and could repeat its previous movement and could slop in the downside. Which will initially lead the price to fall if this happens.
PEPE long and short ratio projects that the short orders have been placed more than the long orders. The short orders have placed a percentage of 52.37% whereas the long orders have a percentage of 47.63% in the last 24 hours.
Conclusion
The overall chart for the PEPE coin is bearish as the price is continuing its downtrend after giving the breakdown of the strong buyer zone. The price always continuously follows a pattern in which it consolidates in a narrow range and then gives the breakdown of the range. The price has recently done the same thing and is consolidating in a narrow range above the $0.00000060 level.
If the price breaks below the $0.00000060 level then it may continue its fall to its next possible support at $0.00000040.
However for the price to be bullish sentiment it must reclaim the $0.00000081 support. If the price reclaims the $0.00000081 level buyers can push the price in an upward direction due to the previous buying from this level.
Technical levels
Resistance Levels: $0.00000081 and $0.00000114.
Support Levels: $0.00000060 and $0.00000010.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.