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The Pepe price dropped 3% in the last 24 hours to trade at $0.00001753 as of 11:16 p.m. EST on trading volume that tumbled 21% to $1.5 billion.
Pepe Price Aiming For A Breakout
The Pepe price chart analysis on the 4-hour timeframe shows a period of substantial volatility followed by a consolidation phase.
Initially, the price experienced a significant bullish run, breaking above key resistance levels, but the momentum peaked near $0.00002735 before reversing sharply, according to GeckoTerminal data. This marks the formation of a prominent lower high, signaling a shift in market sentiment from bullish to bearish.
After the pullback, the Pepe price entered a consolidation zone, fluctuating between $0.00001720 (support) and $0.00001945 (resistance). This rectangular range reflects indecision in the market as traders await a catalyst for the next directional move.
Additionally, a descending triangle pattern (highlighted by the green lines) suggests a bearish continuation is possible if support at $0.00001753 breaks.
The 50 Simple Moving Average (SMA) on the 4-hour chart (white line) is currently sloping downward and sits at $0.00001797, closely aligned with the upper boundary of the consolidation range. This SMA is acting as dynamic resistance, reinforcing bearish pressure. Moreover, the 200 SMA (yellow line) is above the price of $0.00002101, reflecting a long-term bearish trend.
The bearish crossover earlier between the 50 and 200 SMAs, also known as a “death cross,” remains in play, signaling sustained bearish sentiment.
Meanwhile, the Relative Strength Index (RSI) is at 42.13, which is below the neutral 50 level. This indicates that the PEPE price is in bearish territory but not yet oversold.
There is room for further downside before the RSI enters oversold conditions (<30), suggesting that selling pressure could persist.
Pepe Price Prediction
The current Pepe price technical structure suggests a cautious outlook. The prevailing trend remains bearish with the price of Pepe trading below both the 50 SMA and 200 SMA. If the support at $0.00001753 fails to hold, a bearish breakdown could occur, with the next likely target at around $0.00001500 or lower.
However, if the price of Pepe breaks above the 50 SMA ($0.00001797), it may challenge the resistance at $0.00002100 (200-SMA), which would signal a potential trend reversal. For bullish momentum to resume, a strong breakout above $0.00002101 with significant volume would be necessary.
Meanwhile, investors are flocking to a newly launched Pepe alternative called Wall Street Pepe (WEPE), which prominent crypto YouTuber Austin Hilton, boasting 295K subscribers, predicts will “revolutionize” the crypto space.
Wall Street Pepe Raises Over $36 Million In Presale
The Wall Street Pepe presale is defying the crypto market slump, raking in over $36 million since launch about three weeks ago and showing no signs of slowing down.
The project isn’t just another meme coin. It’s a collective force of retail traders with a shared mission: to disrupt the crypto ocean and take down the whales. These traders aren’t the “small fish” anymore – they’ve got the power to move the market in their favor.
Out here making history. Feeling bullish. 🐸 ⚔️ pic.twitter.com/LlI8KkWfL7
— Wall Street Pepe (@WEPEToken) December 15, 2024
Holders of WEPE get to join the WEPE Army of degen analysts and traders who share alpha calls and exclusive market insights, which then helps traders make more informed investments and trade like pros.
The WEPE token also offers a passive income opportunity through its staking feature, which delivers a stellar 35% annual percentage yield (APY).
You can buy WEPE tokens from the official website for $0.0003657 using ETH, USDT, or a bank card. Buy before a price hike in about 6 hours to lock in the best deal during this presale stage.
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Newest Meme Coin ICO - Wall Street Pepe
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