Pepe Price In A Free Fall: Can It Find Support Near Demand Zone?
Release: 2024/02/09 07:34 Reading: 714
- 1 Pepe crypto is facing selling pressure and is sliding to the lower levels.
- 2 PEPE crypto price was at $0.000000973, recording an intraday rise of 0.67% (press time).
Pepe crypto has been under the grip of bears for the last several weeks. The crypto has been sliding down, forming lower highs and lower lows. The price has broken below key moving averages, indicating a negative outlook.
However, the last three to four sessions have been closing in green indicating the buying volumes increasing in the recent sessions. The crypto trades near the weekly high value and has some more room on the upside till the 20-Day EMA.
At the time of writing, the Pepe cryptocurrency was at $0.000000973 with an intraday gain of 0.67%. Also, it has a market capitalization of nearly $408.83 Million after the intraday loss. The volume to market cap ratio is 21.05% suggesting high volatility in the crypto.
Pepe Price Trend Analysis
The Analysis of the PEPE/USD crypto chart over the daily time frame shows that PEPE crypto maintained a positive outlook from October to December 2023 and added over 100% to its market capitalization.
However, the price dropped after attaining a high of $0.00000174 in December and declined breaking below the 20-Day EMA. The buyers tried to hold the crypto near the 50-Day EMA and a short-term pullback was observed on the chart.
Furthermore, the buyers could not resist more and PEPE crypto broke down below the 50 and 200-day EMAs respectively. The crypto resumed its downturn in the short term and is currently nearing its previous breakout zone.
The previous breakout zone may act as a demand zone and the crypto might reverse its course. Whereas, if the volume received is low near the demand the crypto may resume to dig lower after a short pullback to resume its downtrend.
Also, the crypto seems to be respecting a trendline resistance on the upper side. The breakout of which may indicate buyers’ domination and the crypto may reverse its course if it sustains the breakout.
At the time of writing, the RSI was at 42.67 points and the SMA line was at 36.71 points. Both the lines were hovering below the mean line suggesting a short-term bearish outlook.
Pepe Price Prediction February 2024
The Pepe crypto has some more room on the downside till the previous demand zone. The bearish outlook of the analysts sees a downside potential of nearly 16%, which could take the PEPE price to a low of $0.000000830. The positive view of the analysts hopes for a breakout of the trendline resistance after which the crypto could reach $0.00000111.
Pepe Price Prediction 2024
The price forecast for the year 2024 highlights that the PEPE token price could reach a high of $0.00000164, suggesting a potential gain of over 71.1%. Moreover, the bearish outlook of the analysts hopes the price could reach $0.00000131 by the year-end.
Pepe Price Prediction 2025
By the year 2025, the PEPE price may attain $0.00000238 as the highest price. On the flip side, the minimum price up to which the crypto price may rise by the year 2025 is $0.0.00000171.
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