Pepe at a Critical Point: Will Profit-Taking End the Memecoin Hype?

Pepe at a Critical Point: Fibonacci Level Signals Trouble!

An earlier analysis by AMB Crypto stated that Pepe was at risk of profit-taking. The memecoin’s momentum had paused during the last four days, despite its impressive progress in May, surpassing long-term resistance levels. At $0.0000145, the bullish advance has been momentarily repelled by the 61.8% Fibonacci retracement level. Despite some brief setbacks, the altcoin market had been rising for a month. Since sentiment had changed, there was a chance that PEPE’s price would decline.

PEPE Price Falters: What Are the RSI and OBV Telling Us?

The purple-highlighted range formation covered the $0.0000127–$0.0000148 range. The level in the middle was $0.0000138. PEPE had dropped below this level of support in the last few hours. A recent change in momentum was also reflected in the 4-hour chart’s RSI.

It dropped below the neutral 50 mark, which was a sign that sellers were gaining ground. In contrast, the OBV was constantly close to the local highs. The low trade volume during the previous three days was the cause of this. Therefore, the selling pressure was not too great, even though PEPE would experience a decline. Rather, the price decline was a result of both a shift towards liquidity and the general sentiment of the market.

PEPE Liquidation Map Hints at a Potential Reversal

The one-week liquidation map provided helpful hints as well. The $0.0000124–$0.0000127 range was highlighted as a nearby liquidity region. These values were marginally lower than the previously depicted short-term range.

Therefore, PEPE is quite likely to show a deviation below the range within the next few hours. A dip like that would probably be a good time to buy. However, as a bullish reversal was not assured, traders who took long positions should carefully consider their risk and position size.

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