$PEPE

price is steadily rising, up almost 60% in the last seven days. The bullish momentum is supported by positive technical indicators, including EMA lines and a healthy RSI level.

However, some signs suggest that while buyers are still in control, the intensity of the uptrend may be starting to wane.

PEPE's Current Trend Still Strong

The #pepe⚡ ADX index is currently at 46.13, which is a slight decline from over 50 points just a day ago. This decline suggests that while trend strength remains strong, the intensity of the uptrend may be weakening slightly.

Despite this, the PEPE has been rising steadily, up 59.69% over the past seven days. This suggests that buyers are still in control, but momentum may be starting to slow.

The Average Directional Index (ADX) is a technical indicator that is used to measure the strength of a trend regardless of its direction. ADX values below 20 indicate a weak trend, while values above 25 indicate a strong trend. Since the ADX for PEPE is currently at 46.13, the uptrend remains strong, although the recent drop in ADX indicates that the strength of the trend may be weakening.

This suggests that while PEPE is still showing bullish momentum, investors should look out for signs that the strength of the move may be weakening, which could lead to a period of consolidation.

PEPE is no longer in an overbought phase

The PEPE Relative Strength Index (#RSI ) is currently at 60.56, down nearly 80 points from just a few days ago. This decline indicates that buying pressure has eased significantly after reaching an overbought condition.

The falling RSI suggests that while positive momentum still remains, it is no longer as strong as it used to be and the risk of an immediate correction has diminished.

As a rule of thumb, an RSI above 70 means that buyers have taken the asset into overbought territory, which could lead to a price correction. On the other hand, an RSI below 30 indicates that sellers have taken the asset into oversold territory, which could create a buying opportunity.

PEPE's RSI is currently at 60.56, which means it is no longer in overbought territory, but is still showing a healthy level of bullish momentum.

PEPE price forecast: highest price since May 2024?

PEPE's EMA lines are currently showing a very strong bullish configuration: the short-term EMAs are above the long-term EMAs, and price is holding firmly above them all.

If the uptrend continues, PEPE could test the next resistance at $0.00001580. If this resistance is overcome, the price could potentially rise to $0.00001726, which would be the highest level since May. This represents a possible upside of 30.85%.

However, if the bullish momentum fades and there is selling pressure, the PEPE price could correct to the support level around $0.00001084.

If this support fails, the price could fall even lower to $0.0000089, which means a potential 32% decline from the current level.

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