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Is PEPE Coin Crash Imminent? Three Things to Watch (PEPE Price Analysis)

13.07.2023
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With the price just above a critical support, PEPE is approaching a decisive moment.

Key Support levels: $0.00000149

Key Resistance levels: $0.00000164

1. Uptrend Lost

PEPE doubled in price during its rally in June, but this quickly ended in early July after making a local high. Since then, the price entered into a downtrend, which so far has found some relief on the key support at $0.00000149. However, with six consecutive daily candles in red right now, PEPE is not in a position of strength.

Chart by TradingView

2. MACD Bearish Crossover

The daily MACD of PEPE had done a bearish crossover on Sunday, which coincided with the price losing its uptrend. Taken together, these signals point towards a bearish bias, and this seems likely to continue so long buyers don’t return.

Chart by TradingView

3. Support Under Pressure

The key support at $0.00000149 is under constant pressure from sellers. Volume has closed in red for days, and buyers are nowhere to be seen. This makes a breakdown more likely based on this price action.

Chart by TradingView

Bias

The bias for PEPE is bearish.

Short-Term Prediction for PEPE Price

This meme coin is in a weak position right now, and bears may take advantage of this. If the current support falls, then the price might move quickly to $0.00000136, which is the next level of support.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.

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