$PEPE price prediction: Another 20% drop likely in August? - AMBCrypto Analytics

PEPE was unable to hold on to the fair value gap as a support zone. It crashed straight through it, reaching the local lows at $0.000008 once more. This was the level that saw the meme coin bounce after the early July losses.

There is hope that the same can occur again. However, a closer look at the clues from the liquidation heatmap and holdings distribution showed the bears will remain dominant for some more time.

The fair value gap (white) that PEPE left during its rally to $0.000013 did little to halt the bearish pressure. The $0.00008 and the $0.0000678 levels are the next supports, the latter being the 78.6% retracement level based on the rally in May.

The MACD fell below neutral zero, but the CMF was only at -0.02. Overall, the daily timeframe price chart outlined a bearish bias, but also a potential range formation between $0.000008 and $0.000013.

The in/out of the money around price also highlighted the region around $0.000008 as a support.