$PEPE whales scoop up tokens, but will bears take control soon? - AMBCrypto Analytics

PEPE has experienced significant price action, reflecting both opportunities and caution for traders. After reaching an all-time high (ATH) of $0.000025, the memecoin formed a bearish pennant, hinting at a potential continuation of its downtrend. Indeed, PEPE dropped to $0.0000173 but recently bounced back to $0.00001963, marking a 6.5% gain in 24 hours. On the monthly chart, it boasts an impressive 105.02% rise, yet remains 23.24% below its ATH.

Despite the recent uptick, bearish signals persist. The Chaikin Money Flow (CMF) has entered negative territory, signaling increasing selling pressure. Additionally, the Average Directional Index (ADX) surged to 38, while the +DI slipped to 23, confirming strengthening bearish momentum.

Whale activity adds complexity to the narrative, as some large holders accumulate while avoiding selling at a loss. This divergence between technical indicators and whale behavior creates a precarious market environment.