The PEPE price prediction is bearish in the short term based on technical indicators and on-chain metrics, and a support retest is expected.
Sentiment across the crypto space was bearish, and the PEPE price prediction showed traders anticipated a retest of this support zone.The PEPE price prediction is that a move to the $0.0000093 support zone , a bullish order block from mid-May, is likely to materialize in the coming days.
The RSI on the daily chart has been below neutral 50 in June, coupled with the lower timeframe bearish market structure flip when the meme coin fell below the $0.00001314 support. The OBV was barely holding on to a local support level. The trading volume has been low in recent weeks, which suggests that the recent downtrend lacked substance.
A market-wide shift in sentiment could see a quick recovery for PEPE, based on the trading volume as well as the in/out of the money chart.Data from IntoTheBlock showed that 77.58% of PEPE holders were in the money, meaning they were still at a profit despite the recent downtrend. A large chunk of PEPE tokens in profit was bought at the $0.000002-$0.000003 zone, the area where the token began its meteoric uptrend in late February.Around the price, a larger percentage of tokens were out of the money, which meant that a price bounce could see selling pressure from holders looking to exit at break-even. Therefore, in the short-term, a price dip is expected.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold market analysis for June 13 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
Shiba Inu price prediction: Here’s why you need to prepare for a 13% dropShiba Inu price prediction is bearish after falling below a support level, but one metric insists that price appreciation is imminent.
Read more »
Nvidia’s 13% Stock Rout Has Traders Scouring Charts for SupportNvidia Corp.’s three-day, $430 billion selloff has traders turning to technical analysis for clues on where the bottom may be.
Read more »
Markets today: tech hits U.S. stocks as Nvidia extends selloff to 13%Stocks lost traction as an about US$400 billion plunge in Nvidia Corp. raised speculation that the rally in the industry that has powered the bull market was due for a breather.
Read more »
The West Block Transcript – Episode 41, Season 13The RCMP is Canada’s front line defence against national security threats. But as those threats become more common and more complex, how are the Mounties dealing with them?
Read more »
Up by 13%, down by 30% – Assessing LISTA Crypto’s last few daysLISTA, the native token of Lista DAO, an open-source, decentralized stablecoin lending protocol, has declined by almost 30% in the...
Read more »