PEPE: Any idea that distribution has begun?
Pepe price may continue to fall, technical data warns
Technical indicators on the 4-hour chart of PEPE suggest that the price of Pepe may continue to fall over the next 24 hours. More specifically, the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators are showing a bearish trend.
The RSI is below 50, which traders typically view as a sign that the bears are gaining the upper hand over the bulls. If sellers decide to take advantage of this, it will be easier for them to lower the price of Pepe over the next 24 hours than for buyers to raise it over the same period.
In an extremely bullish scenario, PEPE could attempt to turn the $0.00001535 resistance into support. This could then give it a solid technical basis to rise and possibly rise to $0.00001889.
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