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According to monthly chart analysis, the price of PEPE dropped by 20.7% to $0.00001124. The recent consolidation with a symmetrical triangle formation indicates a possible slowdown in the upward trend.
The resistance levels determined on the monthly chart overlap with the daily resistance levels, and the main levels to watch are $0.00001228, $0.00001278 and $0.00001334. Support levels are critical at $0.00001109 and $0.00001079.
Pepe Price Prediction
PEPE/USDT is currently trading at $0.00001123, down 2.3%. The key pivot point is set at $0.00001183, marked by the green line.
$0.00001228, $0.00001278 and $0.00001334 have become evident as instant resistance levels, indicating that there may be potential selling pressure on PEPE's upward attempts. On the downside, $0.00001109 is observed as immediate support level and $0.00001079 is observed as additional support.
The Relative Strength Index (RSI) shows that the market is neutral with a value of 51. The 50-day Exponential Moving Average (EMA) is located at $0.00001145, providing additional support around the pivot point.
The symmetrical triangle pattern limiting PEPE's movement indicates a neutral market trend and advises investors to be wary of possible breakouts in either direction. This symmetrical triangle represents a period of consolidation, which usually signals a continuation or reversal of the previous trend, depending on the direction of the break.
Based on technical indicators, it may be appropriate for investors to consider a short position if PEPE breaks below the $0.00001183 level. On the other hand, if the price rises above this level, it can be considered as a harbinger of a possible uptrend.
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I EXPLAIN IN DETAIL.
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