Is Pepe Headed for Further Losses? Analyze the Crypto’s Future Here

9. August 2023 Aus Von admin

• Pepe [PEPE] has experienced a strong bearish trend over the past month and is likely to face further losses.
• Technical indicators such as the RSI and OBV are showing bearish momentum and rising selling pressure.
• The next significant support level for PEPE is at $0.00000103, with potential for further drops should this level fail to hold.

Overview of Pepe’s [PEPE] Price Prediction 2023-24

Pepe [PEPE] has seen a strong bearish trend in recent weeks, according to CoinMarketCap. On-chain metrics and technical indicators have pointed towards further losses being likely. The key support level currently lies at $0.00000103, with potential for more drops if this fails to hold.

Bearish Market Structure & Momentum

The market structure and momentum were firmly bearish for Pepe [PEPE]. A retest of significant support levels could provide a bounce in prices, but it seemed unlikely that PEPE could reverse its losses as things stood at press time. The price had failed to hold onto the range lows resulting in a bearish continuation and 19% decline since 24 July. Another 30% loss was likely should the price fall below $0.00000103 mark, leading towards the $0.00000082 level where PEPE reversed its downtrend in June.

Open Interest Showing Bearish Outlook

Open Interest (OI) on Pepe [PEPE] had been declining since 14 July, indicating discouraged longs and bearish sentiment among speculators who were not actively shorting either way but not bidding on the memecoin either. This accompanied by downtrend in prices highlighted increased selling pressure on the coin’s market value overall.

Bullish Potential With Break of Structural Range

However if Pepe can enforce a bullish structure break then buyers’ interest can be rekindled with a price move back above the $0.00000145 level needed to flip higher timeframe outlook from bearish to bullish again .


The information presented does not constitute financial, investment, trading nor other types of advice and is solely opinion based by writer/journalist Akashnath S .