📊 Bulls Defend Critical Level
PEPE bulls successfully held the $0.0001711 support, with On-Balance Volume (OBV) showing selling pressure hasn’t been overwhelming. Despite recent losses, OBV remains above May’s highs, suggesting a potential recovery instead of further decline.
🐋 Whale Accumulation Sparks Optimism
Recent data from Lookonchain reveals a whale who sold during the market drop has begun accumulating PEPE again. This signals growing confidence in a bullish recovery and highlights faith in PEPE's upside potential.
⚠️ Will History Repeat Itself?
On the 3-day chart, PEPE’s structure still leans bearish after closing below $0.00001705. However, a bounce toward the $0.00002-$0.0000225 range remains possible as a fair value gap could be filled in the short term.
📉 Deeper Retracement Unlikely
While PEPE previously retraced 78.6% after its rally in May, current market conditions differ. Bitcoin recently tested $100K and hit a new high at $108K, suggesting broader market strength, reducing the chance of a drop to $0.00001067.
🚀 Potential Targets Ahead
If momentum holds, PEPE could target $0.0000144 in the short term, followed by a period of lower highs and consolidation. A breakout could then propel prices toward $0.000042 and beyond, driven by renewed bullish sentiment.
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