PEPE's price has fallen 8% in the past 24 hours, and the current RSI is 33.3, close to the oversold area, indicating that the price may decline further before a possible rebound.
Additionally, the 7-day MVRV ratio is -9.3%, indicating significant losses for short-term holders. Historical trends usually suggest that when the MVRV approaches -12% to -15%, it may be nearing a potential bottom, indicating that PEPE may be undergoing a period of adjustment.
Currently, $0.0000188 is a crucial support level. If this support is lost, the price of PEPE may experience a 47% pullback and decline further. If the price can rebound, the resistance level of $0.0000227 will limit the recovery space, making the breakthrough of this level critical for price restoration.
After PEPE's price hit an all-time high on December 9, it has fallen nearly 8% in the past 24 hours. Momentum indicators, including an RTI of 33.3, show that PEPE is nearing the oversold area but has not yet reached the critical threshold of 30, allowing room for further pullback.
Furthermore, the 7-day MVRV ratio is -9.3%, meaning that short-term holders have suffered significant losses. According to historical data, PEPE may decline further before a rebound, especially when the MVRV ratio approaches -12% to -15%. Therefore, whether PEPE can maintain the critical support level of $0.0000188 or break below it may determine its next major price movement.
PEPE's RTI has not entered the oversold area yet.
PEPE's RTI is currently 33.3, reflecting a sharp decline since December 16. This indicates that PEPE is approaching the oversold area, just a step away from the critical threshold of 30.
With the significant drop in RTI and a continuous decline of 8% in the past 24 hours, short-term selling pressure and bearish market sentiment are intensifying, suggesting that PEPE may face more pullback risks.
RTI (Relative Strength Index) measures the speed and change of price movements to assess whether an asset is overbought or oversold. Typically, when the RTI value is above 70, it indicates that the market is overbought and a pullback may occur; when the RTI value is below 30, it suggests that the market is oversold, usually indicating the possibility of a rebound.
Currently, PEPE's RTI is 33.3, close to oversold levels, indicating that the price may continue to face downward pressure. However, if buyers step in at these lower price levels, PEPE may experience a short-term rebound.
The MVRV ratio indicates that the correction may continue.
PEPE's 7-day MVRV ratio is currently -9.3%, a significant drop from the 17% when it reached an all-time high on December 8. This suggests that most short-term holders are facing unrealized losses.
The recent decline indicates that selling pressure is increasing, and PEPE's pullback is expected to continue in the short term until market sentiment recovers.
The 7-day MVRV ratio measures the average profit and loss of tokens over the past seven days, particularly concerning changes relative to the current market value. Historical data shows that PEPE's 7-day MVRV typically drops to between -12% and -15% before a price rebound.
If this trend continues, the current -9.3% indicates that PEPE may further decline until it finds a bottom and is ready to rebound.
PEPE price prediction: Could face a 47% pullback?
$0.0000188 is the key support level for PEPE; if it falls below this level, PEPE may decline further. If this support level is lost, the price could drop to $0.000017, and it might even fall to $0.000011, with a potential pullback of 47%.
This bearish outlook is validated by moving averages. The short-term EMA (exponential moving average) crossing below the long-term EMA has formed a death cross, further suggesting that the market may continue to face pressure and maintain a downward trend in the short term.
On the other hand, if PEPE can regain buying momentum, the price may once again challenge the resistance level of $0.0000227.
If this level is broken, it may pave the way for further upside, with a target price potentially pointing to $0.0000259. If upward momentum continues to strengthen, the next target may be $0.000028.