Pepe (Pepe) lost 6.03 %in the last 24 hours. Increased sales pressure increased its weekly loss to 26.02 %and its monthly decrease to 31.88 %. However, despite this stagnant market appearance, the graphics show some positive signals. The details are as follows…

Historical Rally Point on Pepe Chart broken

According to the graphics analysis, Pepe’s one -year support level was broken. It seems that there is a great pressure at this level; In the past, Pepe gained 348 %of it.

Breaking this level of support may indicate a “stop Hunt” move, where prices are withdrawn artificially and then large purchases. Such movements usually cause the price to recover rapidly.

In April 2024, Pepe broke this level by making a similar stop-hunt movement and then rose by 338.9 %. Now a similar scenario can be experienced. However, the price may decrease to $ 0.00000399 before the rise begins.

Does RSI data support the rise?

The relative power index (RSI) shows that Pepe comes out of the over -selling zone. The RSI, which is currently 31.87, is moving upwards.

However, previous RSI cycles show that sales pressure has not completely disappeared. If this model continues, Pepe’s RSI movement may be a short -term rise.

In order to begin a real rise trend, RSI must exceed the previous three hills. This will indicate that sellers are completely withdrawn from the market and that buyers are gaining strength again.

SPOT INDUSTRIALS IN THE MARKET MAKING PEPE

Spot continues to investor interest in the market. In the last week, investors purchased a total of $ 53.11 million Pepe. This is the largest weekly purchase amount since the end of January. The purchase in January exceeded $ 85 million.

Technical analysis shows that the market is still open to rise. However, in the futures market, sellers continue to bet on price drop.

Sales pressure in the futures market is strong

In the futures market, the open position (OI) weighted funding rate decreased to a historical level, to -0,0297. This shows that sellers have a great advantage in the market.

This metric helps to determine the trends in the futures market by combining open position (OI) and funding ratio data.

According to the latest data, the transaction volume increased by 91 %and reached $ 574,57 million. At the same time, the price continued to decrease. This shows that sales pressure on the market is supported by high moments. If this trend persists, the price of Pepe may decrease to the lower support levels.

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