- PEPE market battles bear amid selling pressure, seeking a bullish turnaround.
- ChandeMO signals oversold territory, hinting at possible market reversal.
- Negative momentum persists as PEPE faces potential price declines.
In the last 24 hours, the Pepe (PEPE) market fell precipitously, and attempts to recover failed since the intraday high of $0.000001556 served as a solid resistance level. The bears were able to lower the price of PEPE during the decline from its peak to an intraday low of $0.000001522, where it found support.
At the time of publication, the price of PEPE had experienced a decline of 0.68% to $0.000001546, primarily due to continuous bearish pressure. Investors who had the opportunity to profit from price increases took advantage of the situation and are now selling their holdings, contributing to the increased selling pressure on PEPE.
The market capitalization for PEPE also experienced a 0.62% decrease to $605,920,359, and the 24-hour trading volume saw a substantial drop of 24.20% to $66,135,112. Investors are cautious and hesitant to make significant investments, preferring to observe the PEPE market and await signs of a recovery before committing their funds.
The Chande Momentum Oscillator (ChandeMO) on the 3-hour price chart has a value of -14.29 and is heading south, indicating that PEPE is currently oversold. The price of PEPE has been declining swiftly lately, and this trend suggests that it may continue to do so unless it exhibits signs of a bullish reversal.
The upper and lower band values on the Kelter Channels (KC) are 0.00000162 and 0.00000147, respectively. The market is in a strong decline based on this behavior. It may signal sustained downward momentum and present opportunities for profit-taking or short-selling if the price movement breaks through the bottom band.
The market exhibits high negative momentum with a Rate of Change (ROC) value of -1.91, which could cause more reductions if price movement breaks crucial support levels. On the other hand, if the ROC rating increases and enters the positive range, this may indicate better buying opportunities and a change in momentum for traders.
The Chaikin Money Flow (CMF) is facing southwards on the PEPE 3-hour price chart and is in the negative region with a value of -0.06, indicating more selling pressure than purchasing demand. This level suggests that investors are selling PEPE more frequently than they are buying it, which, if the pattern continues, might lead to more price declines.
In conclusion, the PEPE market faces tough times with bears in control, but oversold conditions and potential reversals offer glimmers of hope. Investors remain cautious amidst increased selling pressure.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.