🤔 PEPE Price In Selling Zone: Will It Fall Further Or Rebound Soon?
Since June, the Pepe (PEPE) price has witnessed mild selling on a daily time frame. The PEPE price has been declining due to resistance from a descending trendline.
However, buyers have lost momentum near the trendline and have witnessed selling pressure. The PEPE crypto has dropped to the 200-day exponential moving average (EMA) and formed a bullish candlestick.
Here, RSI did not favor bullish momentum while the price stayed on the 200-day EMA. The further momentum seems uncertain even after a breakdown from a symmetrical triangle. At this point, 200-day EMA is working as a support level.
🔸 Is PEPE Price at a Discount?
A crypto analyst named EXCEL GLOBAL SIGNALS (@excel_global55) shared his analysis on X about PEPE crypto. He claimed that the PEPE price has made a dip and might reverse.
💬 #PEPE 24% downperfect prediction once more— EXCEL GLOBAL SIGNALS 📊
In a 4-H time frame, the PEPE crypto has just tested the last swing low and shown price rejection. Here, buyers have shown involvement, which could lead to a bullish momentum ahead.
🔸 PEPE Price Triggered a Breakdown From Symmetrical Triangle
When writing, the Pepe coin was trading at $0.00000991, which has remained neutral over the past 24 hours. The market capitalization was $3.82 Billion, and the 24-hour trading volume was $432.16 Million.
Buyers have shown interest since September and lifted the price through a trendline. Moreover, the price has triggered a breakdown from the trendline.
The PEPE price has formed a symmetrical triangle pattern on the daily time frame, triggering a breakdown. It could be a bearish sign if the price slips below the 200-day EMA.
Also, sellers may drag the price to the significant support level of $0.00000600. If the PEPE price loses this zone, strong selling can be anticipated.
On the other hand, if the crypto asset price defends the 200-day EMA, a buying signal can be generated.
