PEPE Price’s 32% Rally to Four-Month High May Stumble, Here’s Why 📈
PEPE's price has recently increased, driven by a bullish trend, yet it has not reached its full potential. Although showing signs of bullish momentum, the cryptocurrency faces uncertainties mainly due to high NVT ratios, indicating possible overvaluation relative to transaction volume.
The heightened NVT suggests that PEPE's current price level might not be supported by adequate network activity, placing the asset at risk of a price correction despite the prevailing uptrend.
Technically, PEPE's market sentiment remains optimistic as indicated by the RSI, which points to increasing bullish momentum. This upward trend in RSI provides short-term positive outlook for potential price increase compared to recent bearish indicators.
Currently facing resistance at the $0.00001146 level, PEPE must surpass this to maintain its upward trajectory. However, failing to break this resistance could result in a significant price drop to $0.00000839, marking a substantial correction.
If PEPE overcomes the resistance and rises to $0.00001369, it would achieve a new four-month high, suggesting further bullish trends. This potential breakout could negate current bearish trends and signal more growth in the near future.
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