PEPE Price Drops 23%, but Metrics Hint at Potential Reversal

PEPE 價格下跌 23%，但指標暗示潛在逆轉

The crypto market has faced a downturn, with many coins falling below crucial levels. Pepe (PEPE) was among the affected, experiencing a 23% price decline after retesting a resistance level of $0.00001240.

加密貨幣市場面臨低迷，許多代幣跌破關鍵水準。 Pepe (PEPE) 受到影響，在重新測試 0.00001240 美元的阻力位後，價格下跌了 23%。

The price currently sits near a support level at approximately $0.000010652, a critical area as it had previously served as a strong resistance zone. This level now acts as a moving average support level, potentially providing a firm foundation for price reversals.

目前價格位於約 0.000010652 美元的支撐位附近，這是一個關鍵區域，因為它之前曾是強阻力區域。該水平現在充當移動平均支撐位，可能為價格反轉提供堅實的基礎。

Technical Indicators Suggest Oversold Conditions

技術指標顯示超賣狀況

The stochastic RSI indicates that PEPE is oversold, implying the potential for a price reversal.

隨機 RSI 表示 PEPE 超賣，這意味著價格可能逆轉。

Whale Activity and Stablecoin Supply

鯨魚活動和穩定幣供應

Whales play a significant role in the market. Santiment's data reveals that whale investors now hold 52% of the stable supply, giving them substantial influence over price trends. This increase in stablecoin holdings correlates with increased buying power, possibly creating a potential support level.

鯨魚在市場中發揮重要作用。 Santiment 的數據顯示，鯨魚投資者目前持有 52% 的穩定供應，這使他們對價格趨勢具有重大影響力。穩定幣持有量的增加與購買力的增加有關，可能會形成潛在的支撐位。

Moreover, the whale transaction count for PEPE has risen, indicating active involvement from investors and a positive sentiment for a price reversal.

此外，PEPE 的鯨魚交易數量增加，顯示投資者的積極參與以及對價格反轉的正面情緒。

Liquidation Surge and Long Short Ratio

爆倉激增和多空比率

Coinglass data shows a surge in PEPE's total liquidations, reflecting volatility in the market. Short and long liquidations have both spiked since February, suggesting market speculation and fluctuating sentiments.

Coinglass 數據顯示 PEPE 清算總量激增，反映出市場波動。自二月以來，空頭和多頭清算均大幅增加，顯示市場投機和情緒波動。

Long liquidations in early March coincided with PEPE's price drop, indicating potential bearish corrections on the horizon.

3 月初的多頭清算與 PEPE 價格下跌同時發生，顯示潛在的看跌修正即將到來。

The long short ratio from Coinglass has exhibited recent spikes, implying that long positions are outweighing short positions. This could intensify bullish pressure and contribute to a price shift.

Coinglass 的多空比率近期出現飆升，這意味著多頭部位超過空頭部位。這可能會加劇看漲壓力並導致價格轉變。

Conclusion

結論

Despite the current market volatility and significant liquidations, PEPE has underlying support from major investors, as evidenced by whale activity and stablecoin supply percentages.

儘管當前市場波動和大量清算，PEPE 仍然得到了主要投資者的基本支持，而鯨魚活動和穩定幣供應百分比證明了這一點。

Metrics suggest a crucial support level for a potential price reversal. If PEPE can maintain its support, the price could surge. However, a break below support could result in further price declines.

指標顯示潛在價格逆轉的關鍵支撐位。如果PEPE能夠維持其支撐位，價格可能會飆升。然而，跌破支撐位可能會導致價格進一步下跌。