Pepe (PEPEUSD) Price Forecast: September 12
The market price of PEPEUSD may likely reverse at the $0.000000726 support level to face the positive side soon. After testing the bottom support, a usual response would be a bullish reversal; should buyers eventually wrestle trend control from sellers and rebound from the mentioned support level, the bullish momentum might possibly drive the coin price to a high at $0.000000840 supply trend line, and set the potential for further growth.
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)
As an outcome of low bullish momentum, the PEPEUSD trades in a bearish trend. Sellers are hindering the market from smashing through the supply zones. However, the price may likely reverse at the current trend as the selling pressure will soon be exhausted.
The bears have sustained the crypto market at the $0.000000784 support value in the previous action, making it possible for the coin to stay below the trend line in its recent low.
Further intervention from the sell traders now dropped the price of Pepe down to a low at $0.000000726 level to commence the 4-hour chart today. Thus, if the buy traders stepped into this uncertainty, the coin price may rise back above the $0.000001444 high value.
Meanwhile, the coin may likely reverse at the mentioned support level as the market is now below level 20 of the daily stochastic. It means that the coin market is oversold. This implies that the selling momentum will end soon and the time to gain more strength from buyers is near.
The next bullish correction phase could reach a high at $0.000001444 upper supply mark in the days ahead as we watch the Pepe market turn bullish sooner in its long-term outlook.
PEPE (USD) Short-term Trend: Bearish (1H Chart)
The market value of Pepe in the lower time frame (1H) is seen below the moving averages, this means it’s in a bearish trend zone. However, the current price may likely reverse to the upside soon as the market now approaches the oversold region.
The bearish pressure in the past few hours has made the coin stay below the supply trend levels in recent times.
Pressure from the sell traders further dumped the price of PEPEUSD to a $0.000000726 low value below the two EMAs due to downward bullish momentum.
However, the market price of PEPEUSD may experience a possible reversal at the $0.000000726 support level to resume its upside moves soon.
In support of this, the momentum indicator signaled that the price of Pepe is now very close to the oversold region. This indicates that the selling pressure will end soon, if this is achieved, the next bull race could hit the $0.000001444 upper high level in its lower time forecast.
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