Pepe Coin

PEPE

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/pepe-coin-encounters-local-resistance" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Coin Encounters Local Resistance</a><br></p>
<p style="text-align: justify">Last month, Pepe Coin (PEPE) captured attention with consecutive all-time highs despite uncertain <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market conditions</a>. However, following a recent recovery, PEPE has faced local resistance, indicating that the coin might establish a range. On-chain <a href="https://newslinker.co/category/ai/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data reveals</a> a gradual increase in selling pressure.</p>
<h2 id="pepe-coin-price-prospects">PEPE Coin Price Prospects</h2>
<p style="text-align: justify">In the latter half of May, PEPE experienced higher sales volumes. By mid-June, the Chaikin Money Flow (CMF) indicator dropped below -0.05, suggesting a notable capital outflow. This hinted at a possible price decline in May, potentially lowering PEPE to $0.0000089, erasing prior gains.</p>
<p style="text-align: justify">Market bulls, however, have fiercely defended the $0.0000107 mark, representing a 78.6% retracement. Despite this, the 50% retracement level at $0.000013 was not upheld. Although the CMF indicator turned positive, the Relative Strength Index (RSI) stayed neutral around the 50 mark.</p>
<h2 id="will-pepe-s-price-decline">Will PEPE’s Price Decline?</h2>
<p style="text-align: justify">The liquidity heatmap is essential for PEPE’s future movements. Data from the past three months identifies a significant liquidation zone between $0.000008 and $0.000009. The 50% Fibonacci retracement level acts as resistance against declining to this zone.</p>
<p style="text-align: justify">Liquidity in the market shifts based on investor positions. Should bulls maintain their strength and <a href="https://en.bitcoinhaber.net/bitcoin-withdrawals-from-centralized-crypto-exchanges-increase-possibility-of-bitcoin-passing-40000-by-the-end-of-the-year-rises" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) performs well, PEPE might return to $0.000018. Recent data indicates short positions gaining ground over long positions, potentially signaling a short squeeze and a sharp price rise. Key liquidation zones for PEPE include $0.0000122 and $0.0000134.</p>
<h2 id="actionable-insights">Actionable Insights</h2>
<p style="text-align: justify">– Monitor the CMF indicator for capital inflow or outflow signals.<br> – Watch for price movements around the $0.0000107 and $0.000013 levels.<br> – Keep an eye on the liquidity heatmap to identify potential liquidation zones.<br> – Consider short squeeze potential if short positions increase sharply.</p>
<p style="text-align: justify">In conclusion, PEPE faces local resistance after its recent recovery, with significant selling pressure and potential short squeezes influencing its future price movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/pepe-coin-encounters-local-resistance" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Coin Encounters Local Resistance</a></h5>

PEPE Coin Encounters Local Resistance

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