The price of Pepe (PEPE) showed a clear recovery, bouncing off a bearish signal observed in the last hour after establishing support at an intraday low of $0.000008633. Bulls have regained control of the market, pushing PEPE to an intraday high of $0.000009802, though facing heavy resistance along the way. This is a 4.61% increase from the intraday low. Recent price activity suggests that the trend could reverse from bearish to bullish after a period of consolidation or a minor decline.
Meanwhile, PEPE’s trading volume surged 60.03% in the past 24 hours, supporting its price’s continued upward trend. Additionally, market capitalization increased by 6.92%, reflecting growing investor interest in PEPE. The previous consolidation zone around $0.00000900 has now turned into a support zone, providing some degree of price stability ahead of the current uptrend. If a pullback occurs, expect significant activity at this support level as buyers look to maintain prices to fuel further gains.
The recent high of $0.00000974 is likely to act as a short-term resistance. If the price breaks out and sustains above this level, it is likely to target the next psychological level of around $0.00001000. However, if the price fails to break out of this resistance, it is likely to enter a consolidation phase or experience a minor retracement.
On-chain analysis shows that PEPE's largest holders have significantly reduced their holdings in the past 30 days. Specifically, addresses holding between $100,000 and $10 million in tokens have seen double-digit reductions, indicating heavy selling. The trend suggests that while small investors may be gaining confidence, large holders are hedging their bets. Despite the generally bullish market sentiment - driven by the upcoming launch of a spot Ethereum (ETH) ETF - PEPE's largest holders appear cautious about the durability of this bullish trend. Their selling behavior highlights the market bifurcation, with small investors buying and large investors selling.
Technical analysis of the PEPE/USD pair shows that there was a previous downtrend characterized by a series of lower price levels. However, a bullish reversal pattern known as a double bottom formed at the points marked "Bottom 1" and "Bottom 2". After the formation of this pattern, the price rose, breaking through the neckline that confirmed the double bottom pattern, which usually signals a reversal from a bearish to a bullish trend. Key support levels include previous resistance near the neckline of the double bottom pattern (around $0.00000900) and stronger support (around $0.00000800).
Resistance has been identified as a near-term target of approximately $0.00001900, and further upside is likely depending on further price action. The MACD line is showing a positive slope, with the MACD line above the signal line, further indicating bullish momentum. The relative strength index (RSI) is around 56, suggesting that prices have ample room to rise before reaching overbought territory. This comprehensive analysis highlights the dynamic nature of PEPE’s price action and the interplay of various market forces that influence its trajectory.
The price of Pepe (PEPE) showed a clear recovery, bouncing off a bearish signal observed in the last hour after establishing support at an intraday low of $0.000008633. Bulls have regained control of the market, pushing PEPE to an intraday high of $0.000009802, though facing heavy resistance along the way. This is a 4.61% increase from the intraday low. Recent price activity suggests that the trend could reverse from bearish to bullish after a period of consolidation or a minor decline.
Meanwhile, PEPE’s trading volume surged 60.03% in the past 24 hours, supporting its price’s continued upward trend. Additionally, market capitalization increased by 6.92%, reflecting growing investor interest in PEPE. The previous consolidation zone around $0.00000900 has now turned into a support zone, providing some degree of price stability ahead of the current uptrend. If a pullback occurs, expect significant activity at this support level as buyers look to maintain prices to fuel further gains.
The recent high of $0.00000974 is likely to act as a short-term resistance. If the price breaks out and sustains above this level, it is likely to target the next psychological level of around $0.00001000. However, if the price fails to break out of this resistance, it is likely to enter a consolidation phase or experience a minor retracement.
On-chain analysis shows that PEPE's largest holders have significantly reduced their holdings in the past 30 days. Specifically, addresses holding between $100,000 and $10 million in tokens have seen double-digit reductions, indicating heavy selling. The trend suggests that while small investors may be gaining confidence, large holders are hedging their bets. Despite the generally bullish market sentiment - driven by the upcoming launch of a spot Ethereum (ETH) ETF - PEPE's largest holders appear cautious about the durability of this bullish trend. Their selling behavior highlights the market bifurcation, with small investors buying and large investors selling.
Technical analysis of the PEPE/USD pair shows that there was a previous downtrend characterized by a series of lower price levels. However, a bullish reversal pattern known as a double bottom formed at the points marked "Bottom 1" and "Bottom 2". After the formation of this pattern, the price rose, breaking through the neckline that confirmed the double bottom pattern, which usually signals a reversal from a bearish to a bullish trend. Key support levels include previous resistance near the neckline of the double bottom pattern (around $0.00000900) and stronger support (around $0.00000800).
Resistance has been identified as a near-term target of approximately $0.00001900, and further upside is likely depending on further price action. The MACD line is showing a positive slope, with the MACD line above the signal line, further indicating bullish momentum. The relative strength index (RSI) is around 56, suggesting that prices have ample room to rise before reaching overbought territory. This comprehensive analysis highlights the dynamic nature of PEPE’s price action and the interplay of various market forces that influence its trajectory.
