- summary:
- The momentum and the feeling of Pepe Price indicate that the downstole is here for a period of time. How low?
Meme Coin Pepe continued to try the recession, with its revenue by -48 % on an annual basis. The price of PEPE was at $ 0.0000102 at the time of writing, a decrease by -6.7 % on the daily chart.
The wider encrypted currency market was under strong declining pressure last week amid concerns about the impact of commercial tariff wars on the global economy. This has seen investors to reduce their exposure to high -risk assets such as cryptocurrencies.
Why is the PEPE price probability that the PEPE price will continue
Meme Coins for interest makes it vulnerable to the risk of aversion to markets at times like now. It was an approximate journey of Mimi currencies in the past seven days, as it lost the most important coins such as Doug, Chip and Fluki between 17 % to 24 % during that period.
The PEPE price is traded less than 20.50, 100 and 200 medium -moving levels of SIA (EMA). In addition, 20-Daya crossed below 50-ema, adding support to the downward view of the coin.
Moreover, according to the Crypto, IntothBlock Data website, Pepe Price has a correlation coefficient of -0.31 against Bitcoin. The negative correlation coefficient indicates that Bitcoin’s recovery may not necessarily lead to an ascending transformation by Pepeusd.
Also, PEPE is owned by the majority by whales, and its recovery is likely to depend on the appetite of the whale for high -risk assets. However, these investors are likely to wait for signals from the stock market to increase their exposure to encryption.
Predicting Baby Price
The momentum on Pepe Price calls for more from the downside, as the axis is $ 0.0000106 as shown in the graph below. With sellers control, the Meme Code is likely to move to the first support at $ 0.0000095. The collapse below this level will enhance the declining momentum and possibly test $ 0.0000080.
On the contrary, the momentum will prefer the bullish direction if the price is violated for $ 0.0000106. This is likely to meet the first resistance at 0.0000120 dollars, after which the declining momentum will be invalid. Also, this momentum can be sent the price up and the second resistance test at $ 0.0000133.
