Is $PEPE setting up for a range? 50% retracement level holds the key - AMBCrypto Analytics

During the retracement in the second half of May, the selling pressure began to get intense. In mid-June, the CMF fell below -0.05 to signal hefty capital outflows.

It was anticipated at that time that PEPE prices would retrace the entire mid-May rally and fall to $0.0000089.

The bulls ensured that this did not happen and valiantly defended the 78.6% retracement level at $0.0000107. Yet, they were not strong enough to force a breakout past the 50% retracement level at $0.000013.

The CMF was also back above the +0.05 level, but the daily RSI was sluggish. It meandered around the neutral 50 mark and did not yet signal a bullish shift in momentum.