The bullish order block — can it save $PEPE ? - AMBCrypto Analytics

Pepe [PEPE] bulls thought they had begun to reverse the downtrend last week after prices consolidated above a former local resistance, now support. However, in the past 24 hours, this began to change.

PEPE is likely to see another double-digit percentage price drop.

The PEPE price prediction is that a move to the $0.0000093 support zone (cyan box), a bullish order block from mid-May, is likely to materialize in the coming days.

The RSI on the daily chart has been below neutral 50 in June, coupled with the lower timeframe bearish market structure flip when the meme coin fell below the $0.00001314 support.

The OBV was barely holding on to a local support level. The trading volume has been low in recent weeks, which suggests that the recent downtrend lacked substance.

A market-wide shift in sentiment could see a quick recovery for PEPE, based on the trading volume as well as the in/out of the money chart.