Pepe Price Prediction: PEPE Dives 21% In A Week As This Layer-2 Alternative Charges Towards $12 Million

Pepe Price Analysis

The price of PEPE has experienced a 21% decline over the past week and a 5% drop in the last 24 hours. As of 12:30 a.m. EST, it is valued at $0.000007204, with a 51% surge in trading volume to $808 million.

Bullish Support

Technical analysis of the daily chart suggests the continuation of a falling wedge pattern. The price is consolidating near the lower trendline of the wedge, indicating a potential breakout. Key support at around $0.0000007710 is holding firm, preventing further decline.

Moving Averages and Oscillators

The 50-day moving average (blue line) remains below the 200-day moving average (green line), indicating a bearish trend. However, a break above the wedge could shift momentum.

Meanwhile, Moving Average Convergence Divergence (MACD) shows the average line below the signal line, but shrinking histogram bars suggest a possible weakening in bearish momentum.

The RSI is at 38.34, indicating the market is not yet overbought, leaving room for a potential rally.

Prediction

Confirmation of a breakout above the wedge pattern, Moving Averages, and bullish signals from MACD and RSI is necessary for further price appreciation.

If the price holds above the support zone and shows signs of strengthening, a breakout above the Falling Wedge becomes more likely. A move above the 50-day SMA at $0.0000009522 could ignite further bullish momentum, potentially driving the price towards $0.0000015031.

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