PEPE PRICE ANALYSIS & PREDICTION (July 4) – Pepe Enters Top Losers’ Spot After Breaking Below A Psychological Level

0

Following a short bounce in late June, Pepe recovered for a week and entered the $0.000013 range but due to a sudden rejection, it lost steam and started to show signs of weakness. So far, it has lost 25% in a week.

In continuation of the overall crypto market clampdown, Pepe declined by another 13% today, making it the most loser of the day amongst the top five meme coins by market cap. It appears weak and poised for a bigger drop on the daily chart.

It broke below the psychological $0.00001 level earlier this morning and is now approaching a key support level of $0.0000092 but from the look of things, the meme coin may lose grip above this key support level. 

This may cause severe pain in the market if such a scenario comes into play. The next key target to watch for drops is April’s surge level. But if the mentioned support contains selling pressure, a strong bounce above it could trigger an inducement to bring the bull back into action.

Market speculations and sentiments surrounding the crypto market lately might be indicating more incoming sell-offs. Still, it is important to note that the future looks promising for Pepe as its bullish trajectory remains intact from a long-term perspective.

PEPE’s Key Levels To Watch

Source: Tradingview

Losing the $0.0000092 support could activate a big drop to $0.0000076 and $0.000006. The $0.000002 level would be the next support to keep an eye on in case of a further dip.

The $0.0000108 level that flipped as support is now considered a key resistance for a retest, followed by the $0.0000135 resistance, where it reinitiated the ongoing sell-off last week. Above it lies $0.000016.

Key Resistance Levels: $0.0000108, $0.0000135, $0.000016 

Key Support Levels: $0.0000092, $0.0000076, $0.000006

  • Spot Price: $0.0000095
  • Trend: Bearish
  • Volatility: High

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

About Author

Michael is a professional trader and cryptocurrency technical analyst with many years of trading experience. He became passionate about cryptocurrencies and blockchain technology through his sister and has since been following the industry

Leave A Reply