PEPE in Downtrend, Shows Short-Term Recovery Signs
The Most Important Points in Brief
Pepe (PEPE) continues to show a bearish tendency on higher time frames. However, in the short term, there are signs of stabilization and a possible recovery. The price has been moving within a defined range for two weeks. A 5% increase could be imminent, but demand remains weak.
Pepe: Price Movement and Current Situation
PEPE has been trading within a range between $0.00000572 and $0.00000736 over the past two weeks. The midpoint of this range is $0.00000655, which has been tested multiple times as support. This strengthens the credibility of the current range.
The Relative Strength Index (RSI) shows a recovery above the neutral mark of 50. This indicates short-term bullish momentum, which could push PEPE towards the upper range boundary. However, a breakout beyond this range remains unlikely.
Liquidity Zones and Possible Price Targets
Data from the 1-month liquidation heatmap shows a high liquidity accumulation at $0.0000075. This suggests that the price could test this area in the coming hours or days. Additionally, another significant zone is located at $0.000009.
The 1-week heatmap also indicates a liquidity zone between $0.00000745 and $0.0000075. If PEPE declines in the short term, $0.00000645 could serve as a support level.
Bitcoin’s Influence on Pepe
Bitcoin’s (BTC) volatility could impact PEPE’s current range formation. Deviations beyond the current range are particularly possible during New York trading hours. Traders should take this into account when making decisions.
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Our Assessment
PEPE is showing signs of short-term recovery but remains in a long-term downtrend. A rise to $0.0000075 is possible, but a sustained breakout beyond the current range appears unlikely. Traders should monitor liquidity zones and manage risk accordingly.
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