{"id":326357,"date":"2023-07-10T23:00:48","date_gmt":"2023-07-10T17:30:48","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=326357"},"modified":"2023-07-10T15:31:48","modified_gmt":"2023-07-10T10:01:48","slug":"is-a-rebound-likely-for-pepe-heres-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/is-a-rebound-likely-for-pepe-heres-what-you-need-to-know\/","title":{"rendered":"A rebound likely for PEPE? Here&#8217;s what you need to know"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer\u2019s opinion.<\/span><\/i><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Price charts indicators flashed sell signals on lower timeframes.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Long positions discouraged, reinforcing short-sellers&#8217; edge.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bitcoin [BTC]<\/span><span style=\"font-weight: 400;\"> has fluctuated above $30k for about 19 days &#8211; since 21 June. BTC\u2019s extended consolidation and fluctuations have sent most altcoins into massive pullbacks. In particular, <\/span><span style=\"font-weight: 400;\">Pepe [PEPE]<\/span><span style=\"font-weight: 400;\"> has shed over 20% &#8211; which officially morphs its pullback into a downtrend.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check out the <\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/pepe-profit-calculator\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">PEPE Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">At the time of writing, BTC threatened to drop below $30k. However, the BTC price has been swinging between $29.5k and $31.5k for the past few days. If it breaches the $29.5k, PEPE could smash immediate lower supports.\u00a0<\/span><\/p>\n<h4>Is more contraction likely?<\/h4>\n<figure id=\"attachment_326359\" aria-describedby=\"caption-attachment-326359\" style=\"width: 1950px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09.png\"><img decoding=\"async\" class=\"wp-image-326359 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09.png\" alt=\"\" width=\"1950\" height=\"1023\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09.png 1950w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09-300x157.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09-1024x537.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09-768x403.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPEUSDT_2023-07-10_10-05-09-1536x806.png 1536w\" sizes=\"(max-width: 1950px) 100vw, 1950px\" \/><\/a><figcaption id=\"caption-attachment-326359\" class=\"wp-caption-text\">Source: PEPE\/USDT on TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">PEPE graced a new high of $0.00000190 amidst massive ETF-induced hype around BTC. However, the ETF-hype has since dissipated, setting BTC into fluctuations. PEPE has been making lower highs in the same period after gracing $0.00000190 on 3 July.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The technical indicators also flashed sell signals. In particular, the Relative Strength Index made lower highs, denoting buying pressure declined in the past few days. In addition, the On Balance Volume eased while the Average Directional Index dropped below 20, showing demand eased and PEPE lacked a strong trend.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, short-sellers could extend gains to lower support levels at $0.00000140 or $0.00000131. A further drop below $$0.00000130 could make a retest of $0.00000100 more likely.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But if BTC secures the $29.5k support, PEPE\u2019s rebound from the immediate support level could be likely.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are <\/span><span style=\"font-weight: 400;\">1,10,100 PEPEs worth today<\/span><span style=\"font-weight: 400;\">?<\/span><\/p>\n<hr \/>\n<h4>More long positions discouraged<\/h4>\n<figure id=\"attachment_326363\" aria-describedby=\"caption-attachment-326363\" style=\"width: 1867px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation.png\"><img decoding=\"async\" class=\"wp-image-326363 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation.png\" alt=\"\" width=\"1867\" height=\"571\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation.png 1867w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation-300x92.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation-1024x313.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation-768x235.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/07\/PEPE-Liquidation-1536x470.png 1536w\" sizes=\"(max-width: 1867px) 100vw, 1867px\" \/><\/a><figcaption id=\"caption-attachment-326363\" class=\"wp-caption-text\">Source: Coinglass<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">According to Coinglass,&gt;$500k worth of long positions have been liquidated at the time of writing. However, short positions suffered only about $20k of wreckage in the same period, reinforcing a bearish sentiment in the futures market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nevertheless, the sentiment could flip bullish if BTC steadies and inflicts a turn-around near $29.5k. So, traders should track the overall sentiment and BTC price action for better-optimized trade set-ups.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PEPE&#8217;s market contraction extends amidst BTC fluctuations. Will the immediate support hold the drop? <\/p>\n","protected":false},"author":79,"featured_media":326372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,41,18,66,3,23,4,20],"tags":[],"class_list":["post-326357","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-analysis","category-hide-cryptopanic","category-new-news","category-news","category-no-home","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>A rebound likely for PEPE? Here&#039;s what you need to know - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Bitcoin [BTC] has fluctuated above $30k for about 19 days - since 21 June. 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