PEPE Price Analysis and Forecast: Is PEPE Price at a Discount?

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.

The Pepe (PEPE) price has observed a slight selling on a daily time frame. The PEPE price dropped due to resistance from a descending trendline.

However, buyers lost momentum near the trendline and encountered selling pressure. The PEPE crypto dropped to the 200-day exponential moving average (EMA) and formed a bullish candlestick.

Here, RSI did not prefer bullish momentum while the price remained 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 acting as a support level.

A crypto analyst named EXCEL GLOBAL SIGNALS (@excel_global55) shared his analysis on X about PEPE crypto. He stated that the PEPE price has taken a dip and may reverse from here.

$PEPE 24% down perfect prediction once more https://t.co/vFIlGsnZl2 pic.twitter.com/ZtkJQl7eEl

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

At the time of writing, the Pepe coin was trading at $0.00000991, which remained neutral in 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 pushed the price up through a trendline. Also, the price has triggered a breakout 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.

Moreover, sellers may drag the price to the important support level of $0.00000600. If the PEPE price loses this zone, then strong selling can be anticipated.

On the other hand, a buying signal can be generated if the crypto asset price defends the 200-day EMA.

Once the price breaks above the descending trendline, buyers might show interest and lift the price further. If the trading volume increases at the time of the breakout, then it could remain bullish for longer.

Based on the technical indicators, the RSI stayed below the RSI-based moving average. It is at 44.84 and heading toward the oversold zone, which can invite sellers. The price has declined below the key moving averages, showing a bearish trend.

PEPE Price Analysis and Forecast

The PEPE price is in a critical phase, recently facing a 20% drop and encountering significant selling pressure. The token has found support at the 200-day EMA.

However, the overall sentiment remained cautious due to a weakening RSI and a breakout from a symmetrical triangle pattern. Suppose the price falls below the 200-day EMA, bearish momentum could intensify.

That could potentially lead to a drop in key support levels. PEPE crypto may maintain its position above the 200-day EMA and break through the descending trendline.

If this happens, it may signal a potential reversal and attract buyers. Increased trading volume can help more. As the situation develops, vigilance will be necessary to assess the next moves in this volatile market.

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