Don’t Miss This PEPE Trading Opportunity: Pepe Price Analysis
Over the past 24 hours, the PEPE price has experienced a notable 4.84% increase amid market growth, with meme coins up an average of 3.66%. Meanwhile, indicators hint towards a surge preceding a bearish reversal ahead.
This comes as PEPE holds steady in its recent gains, rising 2.44% since last Monday. Notably, this growth contrasts with losses from most notable altcoins during the same period.
This resilience has allowed PEPE to recover from its rut in recent weeks, now standing at a 5.12% gain over the past month.
Despite this notable price increase, trader interest in PEPE appears to be waning. T he meme coin’s 24-hour trading volume has fallen 23.48% to 508.47 million over the past 24 hours.
After consolidating over the past 12 days, Pepe appears poised for a breakout before a bearish reversal.
Over the past 12 days, the PEPE price has been bound by consolidation. It has ranged between strong support at $0.0000127, and resistance at $0.0000113.
However, PEPE’s chainlink money flow (CMF) (green) has reached the +11.0 mark after holding below +0.05 since the 25th of July, indicating renewed bullish momentum.
This is supported by the asset’s relative strength index (RSI) (purple), which has increased from 40 to 60 over the same period. Though neutral, it now leans bullish, escaping its downtrend since July 15th.
A look at PEPE’s liquidation heatmap reveals that this may be credited to a magnetic zone formed between $0.000014 and $0.0000148 as it has become densely populated with liquidation levels.
The stability brought by the recent consolidation has built up liquidation levels, making it more likely to be swept in the coming weeks.
However, short positions have set a target of the $0.000007-$0.0000076 for a
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