PEPE Faces Price Corrections After Reaching All-Time High

PEPE Price Corrects After Reaching All-Time High

PEPE has experienced price corrections following its record high. However, a bullish formation on its chart suggests a potential reversal.

Last week, PEPE faced significant price declines. CoinMarketCap indicates a 7% drop over the past seven days, with a 6% loss in the last 24 hours.

Current Status

At the time of writing, PEPE trades at $0.00001089, with a market capitalization exceeding $4.5 billion. A symmetrical triangle pattern on its chart indicates a potential reversal.

Despite the bullish potential, PEPE has breached the lower boundary of the formation.

Outlook

If the bearish trend continues, PEPE may drop to $0.00000898. However, if the bulls take control, it could retest its all-time high.

Chart Analysis

Santiment data reveals increased selling pressure last week, with a surge in circulating supply on exchanges. However, whale accumulation has also been observed.

PEPE's Relative Strength Index (RSI) has declined, indicating potential bearishness. The MACD shows bears in a favorable position, while the Chaikin Money Flow (CMF) suggests possible bull support.

Hyblock Capital Insights

Hyblock Capital predicts that PEPE could rise from $0.000009 before falling to the support level. Alternatively, if bulls gain momentum, it could reach $0.0000136 before retesting its ATH.