- PEPE price rebounds, hitting $0.0000107 after dropping to $0.00000986, targeting resistance at $0.000013.
- Over 2.53 trillion PEPE tokens moved in large transactions, totaling $26.46 million, boosting price momentum.
- PEPE price faces crucial resistance between $0.000011 and $0.000013, with strong support at $0.00008 to $0.000010.
PEPE price has started to recover after a challenging week of losses, erasing a zero from its valuation. The bulls are showing signs of regaining control, and with increased whale activity, the token is now targeting a price range of $0.000011 to $0.000013 as it attempts to push higher.
Price Surge Marks Recovery as PEPE Erases a Zero
PEPE price has been showing bearish momentum, with its price dropping from a high of $0.00001315 on July 28 to a low of $0.00000986 on August 3.
The PEPE price has since started to recover, surpassing the daily simple moving average (SMA) of $0.00001028 and reaching an intraday high of $0.0000107. This indicates that the bulls are attempting to regain control and sustain the rebound.
Despite the recent recovery, the overall trend remains bearish as the price is below the Ichimoku Cloud, and the Moving Average Convergence Divergence (MACD) confirms negative short-term momentum.
The Relative Strength Index (RSI) is at 39.33, indicating that the asset is leaning towards oversold conditions, suggesting potential for a reversal if buying pressure increases.
Source: TradingView
Looking ahead, the price is now targeting the resistance range of $0.000011 to $0.000013. This area is critical, as it coincides with high transaction volumes and accumulated positions. If PEPE can break through this range, it may signal a more bullish phase in the recovery.
Whale Movements Fuel PEPE Price Rebound
PEPE has seen significant whale activity, with 2.53 trillion tokens transferred in large transactions, totaling $26.46 million. This suggests that major investors are repositioning themselves, possibly anticipating price increases. The heavy movement could exert upward pressure on the token as whales adjust their holdings.
The token currently faces resistance in the $0.000011 to $0.000013 range, a key area where 58,610 addresses bought 82.68 trillion SHIB at $0.000012. Breaking through this resistance could signal a shift toward higher prices for PEPE.
Source: IntoTheBlock
Support for PEPE is located between $0.00008 and $0.000010, where 47.35 trillion tokens are held at an average price of $0.00009. Any further decline could risk adding another zero to the price, so holding support is crucial for continued recovery. The upcoming price trajectory will depend largely on whale activity and broader market trends.
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