The PEPE/USDT pair is a meme coin that has gained popularity for its high volatility and quick profit potential.
However, technical analysis shows that the pair is in a downtrend and we can expect a further drop of 40%-50% in the coming weeks.
Let's look at some indicators that support this vision:
Moving averages:
The pair is below all exponential and simple moving averages of 10, 20, 30, 50, 100 and 200 periods, indicating strong selling pressure.
Additionally, the 50-period moving average is crossing downwards over the 200-period moving average, forming a bearish crossover known as the âdeath cross.â
Oscillators: The RSI (relative strength index) is in the oversold zone, suggesting that the pair is oversold and could rebound in the short term.
However, the Stochastic, CCI (Commodity Channel Index) and MACD (Moving Average Convergence/Divergence) are showing a bearish divergence, which means the price is making lower lows while the oscillators are making higher lows, indicating a loss of bullish momentum and a possible bearish reversal.
Pivots: The pair is below all classic, Fibonacci, Camarilla, Woodie and DM pivot levels, indicating a lack of support. The closest pivot level is the classic S1 at 0.00000205 USDT, which coincides with the 24-hour low. The nearest resistance level is the classic P at 0.00000231 USDT, which coincides with the 24-hour high.
In conclusion, the technical analysis of PEPE/USDT shows a dominant bearish trend and a high probability of a further decline.
The key support level is 0.000001 USDT, while the resistance levels are 0.0000022 USDT and 0.0000028 USDT. Caution and risk management are recommended for investors interested in this pair.
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