Price: $0.40182 4.3546%
Market Cap: 59.03B 1.7912%
Volume (24h): 12.26B 0.4%
Dominance: 1.7912%
Price: $0.40182 4.3546%
Market Cap: 59.03B 1.7912%
Volume (24h): 12.26B 0.4%
Dominance: 1.7912% 1.7912%
  • Price: $0.40182 4.3546%
  • Market Cap: 59.03B 1.7912%
  • Volume (24h): 12.26B 0.4%
  • Dominance: 1.7912% 1.7912%
  • Price: $0.40182 4.3546%
Home > Information news > PEPE Struggles with Resistance and Lags Behind Other Altcoins

PEPE Struggles with Resistance and Lags Behind Other Altcoins

Release: 2024/07/28 19:02 Reading: 601

Original author:CryptosHeadlines.com

Original source:https://coinmarketcap.com/community/en/articles/66a6201d364bb82ab6ddbb0f

PEPE Struggles with Resistance and Lags Behind Other Altcoins

PEPE Price Faces Resistance and Potential Selling Pressure

PEPE is encountering resistance at $0.00001369, currently trading at $0.00001205. This resistance, coupled with the proximity of 56.48 trillion PEPE to profitability, raises concerns about potential selling pressure.

Resistance and Profitability

If PEPE breaks through the $0.00001369 resistance, investors may see significant gains. However, the Global In/Out of the Money (GIOM) indicator shows that a substantial amount of PEPE is nearing profitability, having been purchased within a range of $0.00001100 to $0.00001300. If the price reaches the upper boundary of its current consolidation zone, PEPE holders could realize around $628 million in profits.

Selling Pressure Indicator

Despite this potential for profit, the Market Value to Realized Value (MVRV) ratio indicates that investors may sell their PEPE to lock in gains if the broader market remains bearish. Currently, PEPE's 30-day MVRV is at 15%, signaling profitability and possible selling pressure. Historically, PEPE has experienced corrections when the MVRV falls between 18% and 48%, a range often referred to as the "danger zone."

Consolidation and Resistance

Until market conditions improve, PEPE is likely to consolidate around the $0.00001205 level. The potential for selling pressure and the inability to break the $0.00001369 resistance may keep prices below this level.

Outlook

If selling pressures intensify, PEPE could drop below $0.00001146, potentially reaching $0.00001007. This would invalidate the current neutral outlook and lead to increased losses.

Disclaimer: This article provides information for educational purposes only. It should not be construed as investment advice.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.