Pepe Price Analysis: Will It Break Above the Key $0.0000075 Liquidity Zone?

Pepe Price Analysis: Will $0.0000075 Unlock the Next Big Move for PEPE?

Pepe Price Analysis – Pepe [PEPE] has experienced a series of outflows from exchanges and signs of accumulation in recent weeks. However, despite some short-term glimmers of hope, the overall market trend remains bearish, with consistent selling pressure continuing to drive the token’s downtrend throughout the year.

Pepe’s Price Range and Consolidation

Looking at higher timeframes, the general sentiment is clearly bearish, but the lower timeframes show signs of consolidation. Over the past two weeks, PEPE has traded between $0.00000572 and $0.00000736, indicating the formation of a price range. The mid-range support level at $0.00000655 has been tested repeatedly, providing solid confirmation that the range formation remains valid.

Short-Term Bullish Momentum

Despite the overall bearish outlook, short-term momentum is showing some bullish signs. At the time of writing, the RSI (Relative Strength Index) has climbed back above neutral 50, which signals a potential for short-term gains. Traders are now eyeing the range highs as a possible target, with $0.0000075 being the key liquidity zone to watch for a potential price jump. If this happens, it could result in a 5% increase in the next few hours or days.

Key Levels to Monitor for Pepe

The range between $0.00000572 and $0.00000736 is crucial, with the $0.00000745 – $0.0000075 liquidity pocket forming a strong resistance zone. Conversely, $0.00000645 represents the short-term bearish target, just below the mid-range level. A retest of this mid-range could present a potential buying opportunity for swing traders.

Bitcoin’s Influence on Pepe Price Movement

It is important to note that Bitcoin’s (BTC) volatility could disrupt this range formation. During major market sessions, such as the New York session, sudden market shifts could cause price deviations for Pepe, affecting its price action.

As of now, while the short-term outlook for Pepe shows potential for small gains, the long-term bearish trend remains intact, and traders should proceed with caution.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.