PEPE Price Analysis: Can the Price Ride Back to $0.0000015?
Release: 2024/01/14 21:24 Reading: 639
- PEPE could break below the $0.0000012 support as indicated by the CMF.
- The rise in capital inflows might invalidate a bearish thesis for PEPE.
- The Funding Rate jumped, indicating that the price could pump into $0.0000015.
On January 11, Pepe (PEPE) rose to $0.00000149 but was quickly pushed back to $0.0000011 by January 12. The decline implied that sellers had entered the market and prevented the memecoin from retesting $0.0000015.
A previous article by Coin Edition discussed how PEPE could hit new highs due to the Bitcoin (ETF) approval. Although the token attempted to, bulls were eventually overwhelmed by the broader market correction.
Price Eyes Another Rise
Despite that, PEPE’s price increased by 8.39% in the last seven days, CoinMarketCap showed. However, it is important to mention that $0.0000015 was a previous resistance for the cryptocurrency.
So, many bullish order blocks have to come to flip the zone if PEPE wants to climb. If the liquidity coming into the market aligns with the buy side, an extra 5% increase could be possible in the coming days.
An assessment of the Chaikin Money Flow (CMF) showed that the indicator had dropped to 0.…
The post PEPE Price Analysis: Can the Price Ride Back to $0.0000015? appeared first on Coin Edition.
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