PEPE Drops 8% from ATH with Coinbase and Robinhood Listings: Price at $0.000021
After PEPE reached a new all-time high after listing on Coinbase and Robinhood, the price briefly corrected, losing 8%. PEPE is currently trading at $0.000021. However, indicators such as the Elder-Ray Index and positive funding rate are providing optimistic signs that the price could recover.
PEPE Price Drops 8% from ATH Level to $0.000021
After its listing on Coinbase, PEPE saw an all-time high of $0.000025. However, a price correction began immediately after this peak. Many analysts say that this is part of the general market correction.
Despite this, PEPE’s bullish trend remains strong and the price is expected to target the ATH level again.
Elder-Ray Index and Positive Funding Rate Strengthen Upside Chances
Despite this decline in PEPE, it is possible that the bullish trend is regaining strength. The Elder-Ray Index measures the strength of the bull and bear pressures in the market and is currently showing positive data. A positive index indicates that the bullish power is still strong and the buying pressure in the market is increasing. This indicates that there are still opportunities for traders to take long positions.
In addition, PEPE’s funding rate confirms that futures traders are showing more interest in long positions. According to Santiment data, PEPE’s funding rate is currently at 0.013%. A positive funding rate indicates that there are more buyers in the market as long holders pay short holders, and there is increasing demand for PEPE. This is a strong sign that PEPE is more preferred by buyers.
PEPE Price Forecast: Depends on Market Sentiment
PEPE, currently trading at $0.000021, could surpass its new resistance of $0.000022 and reach $0.000025 again if general market conditions improve. If this transition is achieved, the price of PEPE could rise even higher and see new highs.
However, if there is a sustained decrease in demand, PEPE’s price could fall to $0.000018. If there is more selling pressure at this level, PEPE’s price could fall to $0.000015. Overall market sentiment and demand dynamics will continue to be the determining factors in PEPE’s price movements.
