Pepe (PEPEUSD) Price Forecast: September 4
The PEPEUSD selling pressure will most likely fade off soon and the pair may experience a possible reversal at the $0.000000782 current support level to resume its upside moves soon. Should the bulls push higher and exchange hands with the sell traders at the mentioned support, the coin could turn upside to retest the $0.000001444 value. Doing so will offer a higher footing for buyers to prolong this recovery. Thus, a post-retest rally may drive the prices high to hit the $0.000001500 upper resistance trend level.
Key Levels:
Resistance Levels: $0.000001000 $0.000001100, $0.000001200
Support Levels: $0.000000800, $0.000000700, $0.000000600
PEPE (USD) Long-term Trend: Bearish (4H Chart)
The PEPEUSD pair is trading in the bearish trend market in its long-term outlook. The price bar can be seen slightly below the moving average lines and has confirmed its bearishness. Thus, the selling pressure will soon fade off as the coin market has reached the oversold region.
Pressure from the short-term traders to the $0.00000o793 low level in the previous action has contributed to its bearish momentum in its recent low.
Sellers’ action further dropped the price of Pepe down to the $0.000000782 support level below the two EMAs as the 4-hour chart resumes today.
With the overall market trend still bearish, the crypto price is likely to plunge higher and retest the high accumulation zone of $0.000001444 if buyers could add more strength to their buying forces.
Furthermore, there is a possibility of a price reversal at the mentioned support as the market now trades at the oversold region of the daily stochastic.
Hence, the upcoming bullish rally may likely hit the $0.000001500 supply value in the coming days in the long-term outlook.
PEPE (USD) Short-term Trend: Bearish (1H Chart)
The Pepe market is also in a bearish trend zone in its short–term outlook. The price bar is seen below the supply level, indicating a bearish trend. However, the current selling pressure will soon fade off as the buy traders have just resumed the rising pattern.
The sustained bearish pressure at the $0.000000776 support value in the previous action has made the crypto price drop below the supply levels in its recent low.
At the time of writing this article, the market price of PEPEUSD has undergone a notable correction phase to a $0.000000783 resistance value below the two EMAs. This is due to the gradual return of the long traders to the market.
Additionally, the coin price now approaches the oversold region as indicated by the daily signal; this means that selling pressure is not likely.
However, if the buy traders successfully keep the Pepe prices above the $0.000000906 value, a retest of the previous high at the $0.000000961 level is possible in the coming days.
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