What month will pepe break out?
At present, after pepe came down from the 0.000017 position, it has been rebounding and showing weakness, opening a negative decline route. I believe that many people are disappointed with the current situation of pepe.
PEPE technical analysis shows that the asset still maintains a broader downward trend. The recent fall from the symmetrical triangle of large red candles confirms a strong bearish breakout and the continuation of this downward trend.
The price of pepe may find support around $0.00000680 to $0.00000700, which marks the previous low. Although downward pressure remains strong, a rebound from this level may lead to a double bottom bullish reversal pattern, which may take PEPE up by more than 105% to $0.00001280.
The Bollinger Bands and Chaikin Fund Flow (CMF) indicators show that the value of PEPE is currently oversold and funds are flowing out of the asset, which supports the bearish outlook.
pepe is even at a low level. The daily trading volume is still more than 800 million US dollars, indicating that the market is still optimistic. In the short term, it needs to break through the 0.00000865 position. Only after it stabilizes, there will be greater room for growth. The short-term positive is that the destruction mechanism of pepe has been activated, and a part of the tokens will be destroyed in each transaction!
