Pepe is moving at a significant price level. Resistance points, volatility and investor activity will determine the future aspect of the token. If the price can hold above $ 0.0000092, the price is likely to increase again. However, if this level falls below this level, the price is expected to decrease to 0.0000032.
Will Pepe maintain its support level?
According to technical analysis, the price of Pepe fluctuates around Fibonacci levels. As of now, the price is located near the 0.786 Fibonacci support at 0.0117220. This region draws attention with its intense transaction volume.
On the other hand, when the volume profile is examined, it is seen that it has a strong purchase interest at these levels. However, the 0.236 Fibonacci resistance at the level of 0.0218044 could not be overcome despite repeatedly tested. This creates an important ceiling for the current trend.
If the support level is maintained, the price may rise again. However, if this level is broken, the price seems likely to retreat to 0.382 fibonacci support at 0.0191309 level.
The struggle between buyers and sellers
The distribution of wallets holding pepes offers important information about the market feeling. Investors who purchase below 0.000003 level are largely ‘profitable’. This shows that many investors are still profitable by purchasing low prices.
On the other hand, there are significant number of investors with ‘loss’ at 0.000013 – 0.000016 levels. These investors can sell to compensate for the damages if the price rises, which can create resistance. Depending on the balance of these two groups, it will be determined whether Pepe will rise or continue to decline.
Pepe continues to collect volatility
Pepe’s volatility is at high levels. The volatility, which was measured as 117.61 %on February 16, peaked with 132.63 %on February 8 and decreased to 105.25 %on January 18th.
Such high volatility indicates that price movements can show sudden changes in direction. Historically, increasing volatility usually results in strong price fluctuations, which requires investors to be careful.
If the price holds at significant support levels, the possibility of recovery may arise. However, if the price does not gain stability and the volatility continues to remain high, the downward trend may last.
What does the increase in the number of investors mean?
The number of wallets holding Pepe has increased recently. As of February 15, a total of 383.6 thousand addresses have Pepe balance, this figure has reached the highest level of the last 30 days. While an average of 30 days was 376.56 thousand, the lowest number of addresses was recorded as 366.54 thousand on 17 January.
This increase shows that long -term interest in Pepe continues. The increase in the number of wallets can prepare the ground for the stable price and potential rise movements. However, if there is a decrease in the number of active investors, purchase pressure may decrease and the price may further decline.
As a result, if the Pepe manages to hold above 0.0000092 level, it can maintain its rise potential. However, if this level falls below this level, the price may decrease to 0.0000032 depending on the market dynamics.
