PEPE PRICE ANALYSIS & PREDICTION (July 9) – Pepe Brews For a New Wave as Meme Coins Resurges, But Volume Looks Low

Pepe’s market structure remains under the bears’ territory on the short-term scale, but things are likely to change soon as sentiment surrounding meme coin turns positive in the past days – building up for a fresh rally. Ending the second half of the year on a weak note, Pepe saw a big loss, but managed to stay above the $0.00008 level and bounced back. Since then, Pepe has been struggling to recover from the dip due to a serious shrink in volatility. Although it appears set for a fresh increase following a slight volume inflow since the start of this week. The increase is not significant yet due to a low buying pressure. From a technical perspective, the bulls are slowly stepping back, but their footprints are not strong yet. Now that it’s trading at $0.00001 after a slight retest hourly, we can expect a massive explosion if the bulls show strong commitment. Even though that happens, Pepe bulls must reclaim the previous monthly high before we can consider a shift. A flip through that high should confirm a short-term bullish move. A roll back to the previous low could bring some set back in the market before rising back. Breaking lower could trigger another major leg down. But from the look of things, the bulls are likely to have an upper hand in the coming days. Pepe’s Key Levels to Watch Source: Tradingview In the latest build up, the $0.0000116 level is considered a close target for the bulls, along with the $0.0000136 resistance. Reclaiming the previous monthly $0.0000163 high could trigger a break to $0.0000219 in the near term. Right now, the $0.000083 level is held as support. If the price drops below this level, the $0.0000076 and $0.000006 support are the next levels to watch for a test. Key Resistance Levels: $0.0000116, $0.0000136 $0.0000163 Key Support Levels: $0.0000083, $0.0000076, $0.000006 Spot Price: $0.00001 Trend: Bearish Volatility: Low Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

Source: NullTx