.png){kind=logo}
Pepe Coin has demonstrated a unique resilience in the face of a volatile cryptocurrency market, often driven by its organic popularity within the meme coin sector. Recently, Pepe's price trajectory has shown signs of strain as it dipped below crucial support levels, currently trading around $0.000007782. This movement reflects a critical juncture where the coin's future trajectory could pivot significantly based on its ability to reclaim and stabilize above these levels.
The latest trading strategy for Pepe Coin (PEPE) outlined by market expert @Learnernoearner highlights a potentially lucrative opportunity amidst the coin's current market activity. The strategy suggests a limit long trade entry between $0.000607 and $0.0005817, targeting substantial gains with price goals set at $0.00079 and up to $0.001117, reflecting an optimistic outlook for a strong upward move in PEPE's price. This trading plan places the stop loss at a very tight margin below the entry points at $0.0005785, minimizing potential losses while aiming for high returns.It is worth mentioning here that the mentioned prices are for 1000PEPE perpetual contracts. Each contract tracks the price of 1000 PEPE coins.
Analyzing the daily and intraday technical charts, Pepe Coin is wrestling with a bearish bias. The Relative Strength Index (RSI), hovering near 47.45, indicates that while the asset is not in the oversold territory, it lacks the momentum to push back into a bullish zone decisively. This tepid sentiment is underscored by the Moving Average Convergence Divergence (MACD), which remains in a bearish crossover state. These indicators suggest that Pepe may continue to face downward pressure in the near term.
Pepe has formed lower highs and lower lows—a classic indication of a bearish trend. The asset is currently struggling to surpass the immediate resistance marked by the 50-day Exponential Moving Average (EMA) at $0.00000874. A failure to breach this level could see the price testing the next support around $0.000007, with further potential declines to the psychological threshold of $0.000006.
Recent on-chain data for Pepe coin highlights a precarious market situation.A significant drop in open interest (OI) by 5.8% over last 24 hours suggests declining trader confidence and potential leading indicator for further price drops; this OI plunge when accompanied by consolidation pattern implies downside risk.Moreover, such trends are often associated with reduced market activity especially in cases involving active trading implying less liquidity thus higher prices swings.
Besides, the provided analytics also signal that a substantial proportion of Pepe holders may incur losses if the current bearish patterns persist. According to IntoTheBlock’s data, about 17.28 trillion tokens risk falling below their purchase price thereby increasing the number of holders with unrealized losses. Moreover, as of now, 57.8% of Pepe holders are in green meaning that this number can drastically decrease in case of worsening market conditions.
Additionally, there has been a decline in trading volume which has paralleled a struggle by prices to break higher grounds.The absence of a strong relationship between price and volume suggests indecisiveness among traders possibly extending the bearish outlook.
While crossing these technical thresholds, the market sentiment has remained cautiously pessimistic for Pepe. If it fails to break through and stay above resistance areas identified, possible touching new lows for it could be seen.However if $0.00001033 is surpassed then this could negate the bearish bias and potentially take Pepe further up towards higher resistance zones like $0.000012 or $0.0000135.Due to existing market conditions and technicals signals investors should anticipate potential downside risks; keep an eye on these described technical markers for any shifts in momentum.
