Pepe, like many memcoins, is rapidly losing its value. Over the past 24 hours, the correction amounted to 7.5%. The price fell by 25% in a week, and by 35% in a month. Trading volume over the past month has also decreased significantly, almost halving.
There is general weakness in the market, which has the greatest impact on low-liquid assets.
If you look at the chart, you can see that the price is approaching a powerful sideways level, highlighted in pink. This range is from 0.00000697 to 0.00000810. In this zone, interest from buyers is likely to return. At the moment, everything points to a continuation of the downward movement. Based on the technical parameters, we see that stochastic, MACD and momentum give a sell signal. The RSI on the four-hour timeframe has touched the oversold zone and is at the level of 25 points. There is also good support in front of the support zone, indicated by the green line in the 0.00000870 zone.
It is expected that it is at this level that large players will begin to get rid of their assets, and we will be able to see a slowdown in the decline. The overall score based on the sum of all indicators indicates a sell.
