The PEPE token continues to show activity with increasing trading volumes and interest from investors. This article discusses key aspects of its current momentum.
PEPE Shows Consolidation
According to the analysis, PEPE is consolidating just below a critical resistance level. The current price movement remains within a tight range, with the token maintaining support above $0.00000720. Steady buying interest indicates strong accumulation.
Rising Short Squeeze Risk
Data shows that short positions on PEPE are increasing, with leverage levels building across various exchanges. This situation raises the risk of a short squeeze, as rapid price movements may force traders to cover their positions. Such moves often result in sharp price spikes.
Expert Analysis and Predictions
According to the analysis, the current structure indicates potential for price acceleration once the resistance zone between $0.00000732 and $0.00000740 is cleared. This could lead to substantial upward price movements for PEPE if it continues to align with Bitcoin's recent recovery.
Given the current market conditions, PEPE may experience significant price movements if it surpasses key resistance while continuing to follow Bitcoin's trends.
