PEPE/USDT is at a historic turning point. Recent pullbacks have pushed the price to test crucial support levels. Are we witnessing a technical rebound or a continuation of the downtrend?
📊 Technical Overview (Possible Rebound Scenario):
* Oversold: The Relative Strength Index (RSI 6) is touching the oversold zone (29.46), and the price is testing the lower Bollinger band. This enhances the possibility of an imminent short-term rebound.
* Whale accumulation: Significant whale activity is being observed accumulating at current support levels, indicating that big players are ready for a potential upward movement.
📉 Key risks (why caution is needed):
* Downward pressure: The current price ($0.00000707) is still below the exponential moving averages (EMA 7, 25, 99).
* Negative MACD crossover: The MACD indicator shows continuous bearish momentum, confirming seller dominance.
* Concerning "Head and Shoulders" pattern: A bearish reversal pattern has appeared on the 2-Day Chart. Breaking the main support ($0.0000064 - $0.0000070) could lead to a larger correction.
📝 Summary for traders:
PEPE is currently caught between technical signals for a rebound (RSI and whales) and confirmations for a downward trend (EMAs, MACD, and H&S pattern).
🚨 Watch the decision point: Current support is critical. A strong close above EMA 7 could trigger a recovery. A close below $0.0000064 could open the door for further declines.
What are your expectations for PEPE?
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