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pepe price forecast : pepe poised for a 15% slump as it fails to overcome key barrier

pepe price retests and fails to overcome the 200- day EMA at around $0.0000095,signaling a price decline ahead.

on-chain data shows that Pepe's long to short ratio is below one ,also suggesting a bearish move.

a daily candlestick close above $0.0000098 would invalidate the bearish thesis.

pepe price rested and faced resistance by the 200-day exponential moving average (EMA) around $0.000095 on Saturday.this 200-day EMA roughly coincides with the broken ascending tradeline that has previously acted as resistance and 50% price retracement level at the time of writing is trades slightly down 1% at $0.0000090 on Monday after declining by 3.6% on Sunday.

if the $0.0000095 level continues to hold as resistance,$PEPE could crash 15% to retest its daily support to $0.0000077.

the relative strength index (RSI) on the daily chart trades just above its neutral level of 50,while the awesome oscillator (AO) trades below its neutral level of zero.both indicators must trade below their neutral levels for the bearish momentum to be sustained.

According to data pepe long to short ratio is at 0.885 on Monday.this ratio reflects bearish sentiment in the market as a number below one suggests that more traders anticipate the tokens price to fall, bolstering the frog-themed-based meme coins bearish outlook.

despite the bearish thesis signaled by both on-chain data and technical analysis ,the outlook will shift to bullish if pepe daily candlestick closes above $0.0000098. this scenario could lead to a 5% rise to retest its 61.8% Fibonacci retracement level at $0.000010.