- Pepe fell under the support zone and Bears from February the control remained.
- The light bullish Momentum diversion may not be bouncing a considerable price briefly.
Pepe [PEPE] has again tested an important level as a resistance. This was after it was set out below the 78.6% retracement level based on the rally that started in the second half of 2024.
The loss of the lows of February meant that the bearish pressure was firm.
Pepe was not the only token that suffered from the yoke of the sellers- it was a common theme on the market, but especially in the memecoin sector.
Pepe to fall until August 2024 low, possibly even deeper
Source: Pepe/USDT on TradingView
It was not a beautiful sight for the bulls. The price fell below the level of support that it established and restored in February as a resistance during the Sunday pump.
Since then, the price has made a new lower layer, which continues the downward trend.
The OBV has been relatively flat because the spot trade volume has been low since the end of December. The retracement in recent months was different from the Retracement from May to August 2024 in this respect.
At the time, the OBV fell with a larger margin. It was a somewhat bright spot, but bulls would probably experience more pain.
While the OBV was missing a steady trend, the RSI is lower for the majority of 2025 than the neutral 50, with the bearish trend of the memecoin.
The RSI and the price were a hidden bullish divergence in recent days, but this kind of divergence is usually weak. By the way, we already saw a bouncing at the weekend and another may not be immediately.
Source: Pepe/USDT on TradingView
The 4 -hour graph showed a range of reach at the end of February. It saw a deviation from the advantage that the resistance of $ 0.00009 tested again and fell under the lows of the range. However, the OBV floated around the same local lows.
Was this a deviation under range before a move is higher? Unlikely, but possible – traders must be prepared for this scenario, but trade based on the evidence.
The fixed rejection of $ 0.00009 meant that bears were in control.
The middle range level coincided with the low set on 3 February, which marked it as an extra short -term price target that could block any bullish efforts. In the south, the $ 0.0000585 was the next support.
The lack of liquidation levels among current market prices showed that the price could consolidate around $ 0.00007 before it goes somewhere.
Over different periods, the $ 0.00009 zone appeared in the short term as a remarkable magnetic zone for Pepe.
A bounce of 30% did not seem likely to Pepe. The zone of $ 0.000073 seemed to be a magnetic zone of any strength on the lower schedules and could offer a sales option at a retest.
Disclaimer: The presented information does not form financial, investments, trade or other types of advice and is only the opinion of the writer
Credit : ambcrypto.com
