#pepecoin🐸 How Many Dollars is the Price of PEPE? Critical days have begun for short positions in PEPE Coin!
P
AND
How Many Dollars is the PE Price? Critical Days Have Begun for Short Positions in PEPE Coin
PEPE Coin Price View
Will PEPE Price Drop?
Last month was marked by Pepe (PEPE). Despite the market uncertainty that existed in the market, ATHs that appeared one after another had a great impact in the market. PEPE, which fell clearly after this process, appeared to face a local resistance level after the last recovery. It is stated that PEPE may form a range depending on this situation. On the other hand, on-chain data also reveals that sales pressure may increase day by day.
PEPE Coin Price View
On the PEPE side, the second half of May stands out as a period in which sales gradually increase. By mid-June, it was seen that the CMF indicator, which shows the cash flow in the market, fell below -0.05, which meant that a large amount of capital left the market.
Depending on the situation in the indicators, it was thought that PEPE prices could cause a retreat in May and fall back to $ 0.0000089, where all gains could disappear.
Market bulls countered this and strongly defended the $0.0000107 zone, which marks the approximately 78.6% retracement level.
However, it would be useful to note that the 50% retracement level at $0.000013 is also untenable. The CMF indicator turned from negative to positive during this period and moved above the +0.05 level, but the RSI indicator, which allows seeing overbought and oversold, remained neutral in the daily outlook. PEPE's RSI value continued to remain in the 50 region during this period.
Will PEPE Price Drop?
The heat map, which shows the levels of liquidity in the market, also has an important place in the future of PEPE.
Data for the last three months indicated a major liquidation level located in the $0.000008 to $0.000009 region. On the other hand, the Fib retracement level, located at the 50% level, is thought to serve as an important resistance against declines to this level.
It is known that the liquidity pools available in the market vary depending on the changes in the market and investors opening and closing their positions. If the strong outlook of the bulls continues and BTC performs well, the price can be seen to return to the $ 0.000018 level.
The data that emerged in the last 2 days revealed that short positions gained more power than long positions. This situation may be one of the harbingers of a short squeeze that may occur in the market and may trigger a sharp price increase. The first liquidation zones for PEPE in the upper region point to the $0.0000122 and $0.0000134 regions.