Analyst says PEPE is one of the most attractive cryptocurrencies on the market

Analyst says PEPE is one of the most attractive cryptocurrencies on the market

PEPE's price action and its relationship to key technical levels are shown on the chart, which is set on a four-hour time frame. A major focus of Shiller's study is the area between $0.0000063 and $0.0000062, which was once resistance but is now support. This level highlighted in green was once a formidable opposition zone; its transformation into support indicates a fundamental change in the market's attitude towards PEPE.

Analysis of PEPE prices

Beyond this, a red descending trendline indicates a possible breakout point, and PEPE is now approaching this barrier. Still, Shiller cautiously warns that there is a possibility of “counterfeiting” even if the asset is close to breaking this downtrend. In this case, the price may cross the trendline before retracing, which may result in a decline of almost 13% to the $0.0047423 support area.

This support could provide a springboard for PEPE if it can withstand market volatility, which is a typical obstacle for crypto traders. From the support level, Shiller predicts a potential gain of 47.47%, with a price target of $0.000011. Such a development would indicate a significant upward trend for PEPE, which would also validate the strength of current support.

A neutral region indicating that the asset is neither overbought nor oversold is indicated by the Relative Strength Index (RSI) hanging at level 50, which is also closely monitored in the analysis. The impending breakout or counterfeit situation is highlighted by this posture, which implies the possibility of significant price movement in either direction.

PEPE price was 0.000006976 $