PEPE Declines to a Range Bound Zone as It Has the Potential to Increase – July 6, 2023

The cryptocurrency asset has resumed selling pressure but has the potential to increase. The bearish retracement is nearing its end. The present uptrend will commence if it retraces above the moving average lines or above the $0.0000017000 breakout mark.

Pepe Price Statistics Data:
•Pepe price now – $0.000001668
•Pepe market cap – $653.6M
•Pepe circulating supply – 391.79T PEPE
•Pepe total supply – $704.01M
•Pepe Coinmarketcap ranking – #67

Resistance Levels: $0.0000019000, $0.0000020000, $0.0000021000
Support Levels: $0.0000015000, $0.0000014000, $0.0000013000

PEPE/USD has failed to break through the $0.0000019000 resistance level. The altcoin was repelled after reaching a high of $0.0000018922. The latest high represents an overbought market zone, as sellers emerged to drive down prices. In a short period, the altcoin has plunged to the market’s oversold region.

This is below the daily Stochastic level of 20. This indicates that the selling pressure has abated. At the time of writing, the altcoin is worth $0.0000016570. As the price goes below the breakout mark of $0.0000017000, the conclusion is that PEPE will continue a sideways trend. For a few days, the altcoin will be forced to move in a range.

Furthermore, the current upward surge may be delayed as the altcoin begins a range-bound move. The price of PEPE/USD will range between $0.0000015000 and $0.0000017000. Meanwhile,cremains in the bullish trend zone at the Relative Strength Index level 57 for period 14.

It signifies that the altcoin has the potential to rise in the positive trend zone.Following the recent decrease, PEPE/USD has entered the market’s oversold zone but has the potential to increase. Buyers will be drawn to lower pricing levels. They will emerge in the oversold region, causing the altcoin to increase. The market’s sideways movement will be broken as it resumes its rising trend

.Alternatives to Pepe

The cryptocurrency asset has recovered above the $0.0000017000 support after the recent decline to the range-bound zone. After a recent drop to the range-bound zone, the cryptocurrency asset has recovered above the $0.0000017000 support. PEPE will return to the $0.0000019000 resistance level to break above it.

The breaking of the initial resistance will signify the restart of upward momentum.PEPE will soar to a high of $$0.0000045000. At the same time, the Wall Street Memes (WSM) tokens are rising in a steady uptrend. Buyers have kept the price above the moving average lines consistently.

The financial disaster might have been prevented if Silicon Valley Bank had realized that the IT sector was having financial issues, that burn rates were rising, and that IT firms couldn’t get capital quickly enough to make up for declining deposits. This has been the financial situation for over a year.

SVB ought to have minimized its interest rate risk even if it ought to have known better. Due to this, a $1.8 billion loss has occurred, and equity must be issued to make up for it. The WSM project has a hedged interest rate and is well-capitalized. So far, the presale has brought in close to $13 million.

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• Source: https://insidebitcoins.com/news/pepe-price-prediction-for-today-july-6-pepe-backtracks-because-it-has-the-potential-to-increase