Recently, the price of the Meme project PEPE has fluctuated greatly, and investor sentiment has become increasingly pessimistic. As the trading volume of cryptocurrencies gradually shrinks, market participants have lost confidence in future price trends and have begun to turn their funds to other new Meme projects.
However, market analysts believe that PEPE may experience a short-term correction and need to test the support level below, but it is expected to rebound in the future.
PEPE price recent trend
At the beginning of September, the price of PEPE showed obvious bearish characteristics, falling below the important mark of $0.0000065. Subsequently, the price rebounded quickly, rising by more than 25% in a week, indicating the possibility of continued bullishness in the market. Unfortunately, however, the bears exerted pressure again, causing PEPE to fall into a key price pattern, and the market was worried that the price might experience a 15% correction.
From a technical perspective, PEPE prices are currently in a symmetrical triangle pattern and are hovering near the support level. Although this pattern usually indicates that major changes are about to occur in the market, PEPE seems likely to fall below the key support before reaching the apex of the triangle. In addition, current technical indicators show that the market is still biased to the downside, and it is unlikely to turn bullish in the short term, so PEPE prices may continue to fall.
Technical analysis: Market risks still exist
From a technical analysis perspective, PEPE's relative strength index (RSI) shows that its buying pressure is gradually fading, which means that the market's short-selling forces may once again dominate price movements. The Directional Movement Index (DMI) shows that when it is close to forming a golden cross, the trend suddenly changes, further indicating that the game between the long and short forces in the market is still ongoing. At the same time, the Moving Average Convergence Divergence (MACD) also shows that it is still in the negative zone, indicating that bearish sentiment still shrouds PEPE's price trend.
Based on these technical indicators, PEPE prices are expected to fall further this month. Although the short-term trend is bearish, PEPE is expected to rebound in the fourth quarter as market sentiment improves.
Opportunities and risks coexist: How to deal with market fluctuations?
Although the current PEPE price performance is poor and the technical indicators are bearish, it is a good time for long-term bullish holders to increase their holdings. For short-term traders, they need to be cautious in dealing with the current market trend. When the technical indicators are obviously bearish, blindly chasing the rise may lead to losses.
Therefore, in the short term, you should remain patient and wait for the market to show clear reversal signals before entering the market. In addition, setting a reasonable stop loss will also help reduce risks and avoid excessive losses during price declines.
Summarize
Overall, PEPE prices are currently near key support levels, and the market is bearish. Technical analysis shows that prices may fall further in the short term, but with the advent of the fourth quarter, PEPE is expected to have a rebound opportunity. For investors who are optimistic about the token in the long term, the current price trend may be a good opportunity to increase holdings, and emerging Pepe products such as Pepe Unchained will also become the focus of the market. Short-term investors should remain cautious and avoid high-risk operations under the pressure of a bear market.
Whether holding for the long term or trading in the short term, investors should make rational decisions based on market data to gain more returns in this volatile market.
