Must-read for retail investors! Is PEPE coin #pepe⚡ about to change trend? Full interpretation of technical + on-chain signals! 🔥
Let’s talk about PEPE coin ($PEPE) and help you better grasp its trend.
I've been closely monitoring market data and technical indicators lately, along with on-chain dynamics and market sentiment 🚗
💥 First, let's discuss the key price points:
There are two important resistance levels to note:
The first is $0.00001350, where the 20-day and 50-day moving averages intersect. If it rises to this point, it may face resistance. The second is $0.00001688, which is the Fibonacci 0.5 retracement level. If it breaks through, PEPE coin could see a significant surge!
🐋 There are also two key support levels:
The current low is $0.0000118, which is a short-term support level. If it breaks this, it may continue to decline. More importantly, $0.00000850 is a psychological barrier; if it breaks this, the price could slide all the way down to $0.00000610, so everyone should keep a close eye on this level!
The on-chain movements cannot be ignored:
Recently, 427 billion PEPE (worth about $8.5 million) were transferred to Kraken exchange, causing market sentiment to tighten, with panic selling starting. There’s also a big whale holding 1 trillion PEPE (worth about $18.4 million); if they decide to sell, the price could really crash!
However, there is also good news: 👇👇
Over the past 8 months, the balance of PEPE on exchanges has decreased from 211 trillion to 152 trillion, indicating that chips are concentrating in the hands of larger holders. The average holding cost for super large holders is $0.00001053, and they are currently up 34%, not yet at a selling point, so there is still room for PEPE to rise!
Market sentiment is currently a bit “twisted”:
On one hand, there’s panic from selling pressure, while on the other hand, the main players are quietly accumulating. Everyone is watching to see whether the bulls (bullish) or bears (bearish) will be stronger next.
⚡️ How do we see the future?
If PEPE can break through the key resistance levels, it may start a new round of increases. But if the support levels cannot hold, it could continue to decline, and the risks are quite significant.
🌞 How to operate today?
The current price is around $0.00001252. Let's see if it can rise to $0.00001296; if it breaks through that, then look at $0.00001330.
Fans who have been watching for a long time, what are you waiting for??
