📉 PEPE trades at $0.00000885 (June 21) after a sharp downtrend, losing over 20% in a week. But a 15% surge in open interest hints at a potential snapback to $0.0000115 — the top of a newly formed Fair Value Gap (FVG).
📈 FVGs on the 1D chart have a 92% fill rate, making this setup notable. If PEPE closes above the midline of the FVG (consequential encroachment), a strong bullish reversal may follow.
📊 The RSI sits at 31, near oversold territory, suggesting sellers may be exhausted. A bounce from here could mark a short-term bottom.
🔴 However, the AO histogram bars are still deep in the red and expanding — a sign that bearish momentum isn’t done yet. Bulls need this indicator to flip before reclaiming upside control.
💹 On the derivatives side, open interest surged to $539M, with $90M added in 24h. The positive funding rate suggests traders are leaning long, betting on a rebound.
📌 In summary, the next 48 hours are key: if PEPE can hold current support and fill the FVG, a rally to $0.0000115 may play out. But watch momentum indicators closely.
⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.
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