- Pepe doesn’t yet have bullish market structures on the timeframe of the day.
- A Bitcoin price drop can have a negative impact on sentiment.
Pepe [PEPE] The price of gold has broken out from the range that it was in earlier this month. On-chain metrics are the memecoin Did not inspired confidence Pepe has managed to maintain recent gains despite the expectations.
Although the trend was still up, the bullish momentum had shifted on the daily chart. Pepe’s liquidation chart-based price prediction showed a take profit level which needed to be converted to support.
This range breakout showed bullish intentions
The convincing cannot begin until the persuasive Bitcoin [BTC] The memecoin was trading at just $0.0000088 above its former mid-range price before it broke through the resistance of $61k on July 15th.
PEPE bulls gained confidence from the BTC’s rally of $61k up to $64k.
On July 15, the volume surged, and the momentum began shifting. The Awesome Oscillator showed strong bullish momentum at the time of press.
However, it has yet to surpass June’s peak.
This resistance area, between $0.0000132 and $0.000014, is where recent lows were recorded on the chart for June. A move towards these levels can be expected.
PEPE price prediction — Full steam ahead?
Source: Hyblock
The heat map of liquidation showed that early in July, the huge liquidity pool was affected by deep losses.
There is some liquidity just under $0.000008.
You can read more about it here Pepe’s [PEPE] Price Prediction 2024-25
Price action in the region of $0.000014 to the north confirms the interest.
If the bulls flip $0.00014 within the next couple of days, it will determine if this token continues to rally, or whether or not the recent gains are retraced.
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Source: ambcrypto.com
