After a sharp decline, the meme coin PEPE caught traders' attention due to increased trading volume despite the general downturn in the cryptocurrency market.
Current PEPE Price and Activity
Currently, PEPE is trading at $0.00001048 after losing over 8%. Throughout the day, the meme coin reached a high of $0.00001154 but subsequently fell to around $0.00001029. PEPE's market capitalization settled at approximately $4.41 billion, while its daily trading volume surged over 66.20%, reaching $1.2 billion.
Future Price Movement Prospects for PEPE
Recent price fluctuations for PEPE indicate a bearish trend. If bearish pressure continues, the price may find support at around $0.00001049. A further correction could initiate what is known as a 'death cross', potentially pushing the value below $0.00001040. However, should bulls regain strength, the price could rise towards $0.00001065 or even test the next resistance at around $0.00001076.
Technical Indicators and Overall Market Condition
Technical indicators are showing bearish signals for PEPE. The MACD line and the signal line are positioned below zero, indicating strong bearish momentum. The daily relative strength index (RSI) at 35.30 implies that PEPE is approaching oversold territory. The Bull Bear Power (BBP) value of -0.00000083 also signals a slight bearish bias.
In the current unstable market conditions, PEPE shows decline while trading volume rises. Traders should carefully monitor technical indicators to understand potential future price movements.
