Flow

bullish

PEPE

<ul>
 <li>PEPE is currently hovering around $0.0000055.</li>
 <li>Daily trading volume has plunged by over 52%.</li>
</ul>
With the negative trading outlook, the crypto market sentiment is trapped in the fear zone. The majority of the assets are trading on the downside, including the largest assets, BTC and ETH. After a brief spike, the meme coin market cap has reached $53.40 billion. Among the meme coins, PEPE, the frog-themed asset, has lost over 2.10% in the last 24 hours.&nbsp;
The meme coin chose to trade on the upside at around $0.000005809 in the early hours. Gradually, the mighty bears took control and triggered the price to move downward, to a bottom of $0.00000555. At the time of writing, as per CMC <a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener noreferrer">data</a>, PEPE is trading at the $0.000005552 mark, with its daily trading volume down by over 52.77%, reaching $319.42 million.
The Ali <a href="https://x.com/ali_charts/status/1986342034785915250" target="_blank" rel="noopener noreferrer nofollow">chart analysis</a> shows that PEPE has formed a head and shoulders pattern, a classic bearish reversal. The price has broken below the neckline. It is signalling that the downside momentum is likely to continue, targeting around the $0.00000185 level. It also hints at possible interim support and minor bounces.
<h3 class="wp-block-heading" id="h-is-pepe-s-downtrend-poised-to-continue">Is PEPE’s Downtrend Poised to Continue?</h3>
PEPE’s Moving Average Convergence Divergence (MACD) line and the signal line have crossed below the zero line, implying the current bearish phase. Even with a bullish crossover, the upside momentum remains weak unless both lines move back above the zero line.
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Meanwhile, the meme coin’s Chaikin Money Flow (CMF) indicator, found at 0.09, shows mild buying pressure in the market. With a positive value, the money is flowing into the asset. However, there is a more cautious accumulation rather than aggressive buying.
In addition, the Relative Strength Index (RSI) value of 37.08 suggests bearish sentiment. There is still room for further downside to approach the <a href="https://in.tradingview.com/chart/AHwivr5C/?symbol=BINANCE%3APEPEUSDT" target="_blank" rel="noopener noreferrer nofollow">oversold zone</a>, a potential bounce zone.PEPE ’s Bull Bear Power (BBP) reading -0.00000020 indicates that the bears slightly dominate the bulls. Notably, the selling pressure is extremely weak as the momentum is negligible, almost neutral.&nbsp;
The price chart of PEPE exhibits a bearish trading pattern, and the <a href="https://thenewscrypto.com/pepe-price-alert-could-the-death-cross-push-it-toward-0-0000060/" target="_blank" rel="noopener noreferrer nofollow">price</a> might retrace and test the $0.000005544 support range. Further downside pressure could trigger the bears to gain more power and let the price go below its recent lows at around $0.000005536.&nbsp;
On the upside, if PEPE’s price reversed the <a href="https://thenewscrypto.com/will-the-bullish-breakout-hold-for-pepe-or-is-it-just-a-short-lived-spike/" target="_blank" rel="noopener noreferrer nofollow">momentum</a> and entered the green zone, the price could climb toward the $0.000005560 range. An extended bullish correction might push the potent bulls out to likely find the asset’s crucial resistance at $0.000005568.

Warning for PEPE Bulls: Price Break Below Neckline Sets Bearish Target at $0.00000185

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