PEPE price prediction: Another 20% drop likely in August? – perspective by AMBCrypto

Pepe (PEPE) was unable to hold on to the fair value gap as a support zone. It crashed straight through it, reaching the local lows at $0.000008 once more. This was the level that saw the meme coin bounce after the early July losses.

The fair value gap (black) that PEPE left during its rally to $0.000013 did little to halt the bearish pressure. The $0.00008 and the $0.0000678 levels are the next supports, the latter being the 78.6% retracement level based on the rally in May.

The MACD fell below neutral zero but the CMF was only at -0.02. Overall, the daily timeframe price chart outlined a bearish bias, but also a potential range formation between $0.000008 and $0.000013.

The in/out of the money around price also highlighted the region around $0.000008 as a support.

Ultimately, the next region of interest is the $0.00000677-$0.0000074. This lined up well with the Fibonacci level at $0.00000678, reinforcing bearish expectations.

#BTCMarketPanic #RecessionOrDip? #MarketDownturn #pepe⚡


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