Beware! Pepe's price sprint is blocked, and the boulder ahead may end the rise!
Although the price of Pepe token has risen by 10.87% in the past week, there are actually many problems behind it, which may bring its rise to an abrupt end. It's like climbing a mountain halfway and suddenly seeing a big rock blocking the way ahead. Can you not panic?
The current price of Pepe is $0.0000085, but it is not easy to reach the height of $0.000013. Many investors may think that it will continue to rise, but based on these data, I think it is more likely to take two steps forward and one step back, and slowly climb up.
What's worse is that Pepe holders have recently begun to waver. It's like a group of friends who were originally full of confidence, but suddenly someone started to back down and wanted to sell and leave. On September 21, the price of Pepe hit a small new high, but then the trading volume rushed to $4.48 trillion like a rocket (don't be scared, this is just the total profit calculated based on Pepe's current price). This shows that many people have made a lot of money and are planning to cash out and leave.
Let's take a look at the holding time of Pepe. Before, everyone was quite patient and held on. But this week it suddenly changed, and the holding time was reduced by 15%. Isn't this a signal that everyone is eager to sell!
From a technical point of view, it is possible for Pepe to rise to $0.000013, but now the resistance is too great, just like the strong wind and rain encountered when climbing a mountain, you may slide down if you are not careful. Moreover, the comparison of the buying and selling power also shows that the sellers are now in the upper hand. Therefore, the price of Pepe is likely to fall to the low point of $0.0000074 first.
But then again, if there are fewer people selling, Pepe still has a chance to rebound. But in the short term, we have to be prepared for it to fall first and then rise, first see around $0.00001, and then slowly climb to the target of $0.000013. In short, Pepe still has a long way to go, we have to open our eyes and see clearly before we go.
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