1. Price Trend:
• Key resistance: Currently, PEPE faces resistance at the level of $0.000021, which must be broken to confirm a bullish trend.
• Important support: Support is located at $0.000019. If this level is broken, we could see a more pronounced drop【9】【11】.
2. Technical Indicators:
• Moving Averages:
• The price is slightly below the 50-day moving average, indicating weakness in the short term.
• However, it is still above the 200-day moving average, suggesting that the long-term trend remains positive.
• Relative Strength Index (RSI): It is close to oversold levels (below 30), which could indicate a possible upward reversal if support consolidates.
• Trading Volume: It has decreased by 12.60% in the last 24 hours, reflecting less active participation, but it remains significantly high compared to other meme cryptocurrencies【9】【10】.
3. Chart Formation:
• Symmetrical Triangle: PEPE appears to be forming a symmetrical triangle on the daily chart. This indicates a period of consolidation before a possible breakout. If the price breaks upward, we could see a new attempt at higher levels. If it breaks downward, a bearish trend would be confirmed【8】.
4. Market Sentiment:
• The market maintains an overall bullish sentiment on PEPE, although it has slightly decreased after the drop from its all-time high on November 14, 2024【9】.
5. Fundamental Factors:
• Burn mechanism: It maintains scarcity by regularly removing coins from the market.
• Community focus: A large part of PEPE's appeal lies in its community and social media marketing strategies【10】.
In summary, the technical analysis of PEPE suggests that it is at a decisive moment. Support and resistance levels will be key to determining the short-term direction. If you are interested in more details or specific strategies, let me know!
