#Pepe price prediction- short-term dip to continue
On the daily timeframe, PEPE has a strong bullish outlook. It has been retracing its gains in the past 11 days, but its performance in November has been impressive. It left behind a large fair value gap during the impulse move on the 13th of November, marked in white.
This region coincided with the bullish breaker block from May at the $0.000016 region. The confluence of these two factors meant that the $0.00001615-$0.00001715 region is a firm demand zone that is likely to be defended.
Further losses could see PEPE fall to the $0.00001216 level. The technical indicators remained bullish. The daily RSI was still above neutral 50 and showed that the momentum favored the buyers. The OBV saw a pullback due to the selling of the past eleven days.
If the OBV continued to slump over the next 3-4 days without halting, it would be a sign of sustained selling pressure. This could signal a PEPE drop toward $0.000012. Until then, PEPE bulls are expected to prevail despite the short-term sentiment.
