Looking into whether PEPE’s 35% gains will last through April

  • PEPE maintained a long-term bullish structure, but has a short-term bearish structure.
  • The momentum and volume indicators showed a bullish reversal was underway.

Pepe [PEPE] maintained a bullish market structure on the higher timeframe charts. It has not fallen to a key demand zone where prices consolidated during the early March rally.

The recent bounce in prices also buoyed market sentiments.

A recent AMBCrypto report highlighted the falling supply in profit as prices fell, alongside a drop in trading activity.

The addresses in profit were still at a healthy number — will this see prices rebound, or should investors prepare for an extended consolidation phase?

The consolidation and reversal at the 61.8% retracement

PEPE 12-hour Price ChartPEPE 12-hour Price Chart

Source: PEPE/USDT on TradingView

PEPE has made gains of 34.9% since the 19th of April’s lows. This bounce also took prices above the low at $0.00000581.

While the $0.000006-$0.000007 region is a resistance, the bulls have some strength to flip it to support.

For starters, despite the month-long downtrend on the OBV, it has begun to make higher lows in the past week. It was not much, but it was a good start.

Another factor was the RSI on the 12-hour chart climbing above neutral 50, giving an early signal of bullish momentum.

The lower timeframe market structure such as 4-hour and lower was still bearish. However, the defense of the 61.8% Fibonacci retracement level at $0.00000481 in the past week was an encouraging development.

If the OBV can climb back above the dotted line plotted, it would be another early sign of bullish impetus.

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The next magnetic zone for PEPE prices

PEPE Liquidation HeatmapPEPE Liquidation Heatmap

Source: Hyblock

The $0.000006-$0.000007 was a resistance zone from both a technical perspective and from the liquidation heatmap.


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The cluster of liquidation levels at $0.0000065 was about to be swept, which could force prices higher.

The next areas of interest are at $0.000004 and $0.0000084. If PEPE is unable to break its short-term bearish structure soon, traders might have to be prepared for another move lower.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

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