PEPE price is currently down 11.34% from the all-time high it reached just yesterday as its uptrend begins to lose steam. Its ADX fell from nearly 30 to 21.26, signaling a weakening of the current uptrend.
While the trend remains above the 20 threshold, indicating that some bullish momentum remains, the fall in ADX suggests that PEPE may not continue to rise at the same rate in the near future.
The PEPE uptrend is losing its strength
PEPE ADX is currently at 21.26, up from nearly 30 just a day ago, indicating a weakening in the strength of the current uptrend. ADX, or Average Directional Index, measures the strength of a trend. Values above 25 generally indicate a strong trend, while values below 20 generally indicate a weak or weakening trend.
In this case, a fall in ADX from 30 to 21.26 signals that PEPE’s upward momentum is losing momentum, which could lead to a potential slowdown or reversal of the current trend.
Since PEPE is currently in an uptrend, a fall in ADX could indicate that the bullish momentum is fading and the trend may soon fade.
As long as ADX remains above 20, the trend is considered to still have some strength. However, the decline in ADX suggests that the price may not continue to rise as much in the near future.
PEPE RSI is currently in the neutral zone
The PEPE RSI is currently at 50.5 after briefly rising above 70 on December 7, indicating a change in market sentiment.
The fall to 50.5 suggests that initial overbought conditions have eased and momentum is stabilizing. At this point, it does not indicate an overbought or oversold situation.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change in price movements on a scale from 0 to 100. An RSI above 70 typically signals an asset is overbought, while an RSI below 30 indicates it is oversold.
An RSI PEPE of 50.5 indicates neutral market sentiment with no strong bullish or bearish momentum. In the coming days, this could mean that PEPE price may consolidate or trade within a range.
PEPE Price Forecast: Could PEPE Test $0.000028 Soon?
Although the PEPE price is still in an uptrend, the strength of the trend appears to be weakening as the price has now fallen below the shortest EMA line, signaling a potential change in momentum. If the trend reverses and turns down, PEPE could soon test support at $0.000022.
If this level is broken, the price could continue to decline, testing further support levels at $0.000017 and possibly even $0.000011. This would represent a potential price correction of 54%.
The fading uptrend coupled with PEPE’s price position below the short-term EMA suggests increased downward pressure in the near future.
However, if the uptrend manages to regain strength, PEPE may attempt to test the next resistance level at $0.0000259. If this resistance is broken, the price may continue to move higher and test higher levels at $0.000028.
