PEPE price prediction: Can the memecoin trade above THIS level?
The short-term market sentiment for PEPE has turned decisively bullish. What does this mean for the memecoin's traders?
The daily time frame showed a bearish structure, and the technical indicators pointed toward selling pressure. The 78.6% level at $0.00000678 is the next target. The daily RSI showed strong bearish momentum and the OBV noted steady selling volume in the past three weeks.
A price drop to $0.000004 in the next month or two can’t be ruled out. An uptick in the OBV would be hugely encouraging, as would an RSI crossover above neutral 50. Swing traders can try to buy near the local lows at $0.000006 with a relatively tight stop-loss.
The 3-month liquidation heatmap showed that the area above $0.000006 had some liquidity. By contrast, the $0.000014 region glowed brightly, marking it as a far more attractive target for PEPE.
It would take time to materialize, but a sweep of the local lows at $0.000006 followed by a rally above $0.000014 could commence, provided Bitcoin can stabilize its downtrend.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
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