📉 Pepe Faces Bearish Pressure Amid Whale Activity
Pepe Coin dropped 11.21% in the past 24 hours, erasing recent gains and recording a YTD return of -6.89%. A trading volume spike of +61.48% to $1.94 billion suggests intensified market activity. The 50-day EMA shows a bearish convergence, while the 200-day EMA could act as critical support.
📊 Technical Indicators Signal Bearish Momentum
The RSI has dipped below the neutral point, confirming bearish action. Negative convergence along the average trendline suggests continued price pressure. Pepe's market cap currently stands at $7.65 billion, placing it as the 24th largest altcoin.
🚀 Can Pepe Reclaim $0.000020?
If bulls hold $0.0000180, Pepe could test the resistance at $0.0000220, potentially paving the way for a move to $0.0000250. Sustaining this level may revive bullish sentiment.
📉 Downside Risks Remain
However, intensified bearish activity could push Pepe toward its lower support at $0.0000140, marking a significant decline. Traders should monitor key support levels closely to anticipate the next major price move.
🔮 Outlook: Cautious Optimism
Pepe's short-term price action hinges on holding critical supports while navigating bearish momentum. A breakout above $0.000020 is crucial for a recovery, while failure could lead to further losses.
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