PEPE Price Slows Down as Metrics Indicate Corrections
On November 13, after PEPE was listed on Coinbase, its price hit a record high. It’s up 105% over the past month, but down nearly 10% over the past seven days. Indicators such as relative strength index MVRV suggests that further corrections are likely as bullish momentum wanes.
A potential death cross at the EMA line could push PEPE to key support at $0.0000139 or lower. However, a trend reversal could see PEPE test resistance at $0.0000228 and target a new all-time high at $0.000030.
PEPE is not oversold yet
PEPE The RSI has fallen from 60 to 38.8 over the past three days, indicating Bullish momentum weakens. The RSI, or Relative Strength Index, measures price momentum on a scale of 0 to 100, with values above 70 indicating overbought conditions and below 30 indicating oversold levels.
The decline reflects increasing selling pressure, but the current RSI suggests PEPE is not yet oversold.
PEPE’s RSI is 38.8, which is close to a key level and has not fallen below 30 since November 3. This suggests that if historical patterns hold, prices may stabilize soon. The recent decline does not change the fact that PEPE is the third largest same corner in the market, lower than DOGE and SHIB.
However, if the RSI falls further below 30, it could trigger stronger bearish momentum and lead to further price corrections.
PEPE MVRV ratio suggests adjustments may continue
PEPE’s 7-Day MVRV ratio currently stands at -6.2%, indicating that holders, on average, have experienced slight unrealized losses in the near term. MVRV, or Market Value to Realized Value, measures holders’ profits or losses based on a token’s market value relative to the price they paid.
Negative MVRV levels like this indicate reduced selling pressure as holders are less likely to sell at a loss.
Historically, PEPE The stock saw a strong price recovery when its 7-day MVRV fell below -9.7%, suggesting the potential for further pullbacks before rising again.
This pattern suggests that while current MVRV levels suggest consolidation, a deeper decline could set the stage for a bullish rebound. If the MVRV is trending downward, it may be reaccumulate and a new price recovery.
PEPE Price Forecast: All-time highs may be temporarily delayed
The EMA line for PEPE is showing a bearish signal, possibly forming a death cross, where the short-term EMA line crosses over the long-term EMA line.
If this pattern materializes, it could trigger further adjustments. PEPE price A test of the support levels at $0.0000139 and $0.0000108 is likely. If the selling pressure intensifies, PEPE could drop to $0.0000077.
On the other hand, if market confidence returns and the trend reverses, PEPE price A challenge to the $0.0000228 and $0.000026 resistance levels is likely.
A break above these levels could push PEPE price towards $0.000030 and a new all-time high.
Disclaimer
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