PEPE's price recently achieved a new all-time high after being listed on Coinbase, experiencing a 105% increase over the past month. However, in the last week, the price has fallen by nearly 10%, with indicators like RSI and MVRV suggesting that further corrections are likely as the bullish momentum weakens.
The potential formation of a death cross in the EMA lines indicates that PEPE's price may drop to key support levels at $0.0000139 or lower. However, a trend reversal could see PEPE testing resistances at $0.0000228 and potentially pushing towards a new all-time high at $0.000030.
Despite a decline in RSI to 38.8, suggesting weakening bullish momentum, PEPE is not oversold yet. The drop reflects increased selling pressure, but historical patterns suggest price stabilization may occur if RSI hovers near 30, avoiding further bearish momentum.
PEPE's 7-day MVRV ratio is at -6.2%, indicating slight unrealized losses for recent holders, which may reduce selling pressure. Historically, PEPE has rebounded strongly when its 7-day MVRV dipped below -9.7%, suggesting that deeper dips may precede upward price recoveries.
The bearish EMA lines signal further possible corrections, potentially leading PEPE's price to test supports at $0.0000139 and $0.0000108, with a risk of falling to $0.0000077. However, if market confidence returns, PEPE could challenge resistances at $0.0000228 and $0.000026, possibly reaching $0.000030.
