Likewise from several cryptocurrencies, Pepe (Pepe-PEPE) is currently showing a weak performance, but it seems that its price will start to recover soon, as the 30-day moving average indicator - represented in orange - is about to drop below its 200-day counterpart - represented in blue. - Which may indicate that Pepeâs price has entered an explicit oversold zone, which is likely to bounce back higher.
The Relative Strength Index (RSI) - represented in purple - also fell to approximately 30 over the past day, indicating that the current price of Pepe is undervalued compared to its recent levels, which is likely that it will begin to attract new buyers.
The most important thing at this stage is that the support level - represented in green - succeeds in preventing the price from falling further and further during the next day after its recent decline below the previous support levels in the short term. What is also pessimistic is that the trading volume of this currency is still low by $600 million compared to the levels achieved at the beginning of last March, which were approximately $4 billion.
Accordingly, the price of this currency is likely to rise significantly soon, especially after it suffered significant losses recently. The price of Pepe is likely to reach $0.000010 within the next few weeks, and it is also likely to reach the $0.000020 barrier during the last months of the current year 2024.
