Published 3 hours ago
PEPE Price Analysis: The PEPE coin has been in a correction phase for nearly a week and witnessed a significant loss during the period. From the All-Time High of $0.00000449, the coin price witnessed a 68.5% loss to reach the current price of $0.00000231. However, the falling price shows a breakdown attempt from another support level indicating that the Pepecoin price is poised for further fall.
Key Points:
- A breakdown below $0.0000014 threatens Pepecoin with a 39% downfall
- The recent bearish crossover between the 20 and 50 EMA will accelerate the selling pressure in the market
- The intraday trading volume in the PEPE is $1.42 Billion, indicating a 292.5% gain.
Source- Tradingview
From May 8th to early today, the falling Pepecoin price witnessed a minor sideways consolidation phase between $0.00000212 to $0.00000171 levels. Today, on the intraday level, the coin price shows a significant breakdown of the $0.0000017 support, offering sellers an additional barrier to pressurize buyers.
Also Read: Top 10 New Meme Coins With The Best Potential In 2023
With sustained selling, the PEPE price tumbled 17% and hit the May 1st and 2nd price peaks of $0.0000014 as potential support. If the coin price gives a breakdown below this support with 4-hour time candle closing, the selling pressure will intensify and threaten this memecoin for another 39% down to hit the next significant support of $0.00000085.
On a contrary note, if the coin price rebounded from $0.0000014 support, the trades must for a $0.00000171 breakout to at least get a first hint of price recovery.
Technical Indicator
Relative Strength Index: A significant drop in the RSI slope reflects intense selling momentum in the market.
Exponential Moving Average: Along with $0.0000017 support, the price may also lose the 100 EMA slope offering an extra edge to market sellers.
PEPE Intraday Price Levels
- Spot price: $0.00000142
- Trend: Down
- Volatility: Low
- Resistance level- $0.00000171 and $0.00000212
- Support level- $0.00000140 and $0.00000085
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/pepe-price-analysis-pepecoin-price-losing-another-major-support-more-downfall-underway/