The recent slowdown that has swept away The cryptography market has grown the coin Pepe in territory occurringAccording to the indicator of relative resistance index. In particular, this is only the third time that Pepe has reached the levels of occurrence of its history, in particular on the daily candlestick period.
Historical data show that in the previous two cases, the Pepe Price Movement followed a specific model, leading to a strong recovery after a period of consolidation. As such, the Recent price for pepe price could be the first step before an incoming bull price action.
The condition of PEPE Surolon is a rare market event: what happened the last two times?
Pepe did not have a lot of history to pass, because it is one of the youngest pieces of memes with great market capitalization. However, during the past and a half year since its launch, Pepe has rarely plunged into the territory of occurrence on the relative force index (RSI). This makes its status of current occurrence an important event in the technical analysis, because it only occurred twice before. A The surveillance state is When the sale pressure on a crypto becomes too much in a short period, which means that the RSI indicator falls below 30.
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In the previous two cases where Pepe became an occurrence, the price has entered a consolidation phase lasting about a month before bouncing with a strong upward trend. This model is obvious in a daily graphic Pepe Daily Shared on the social media platform X by analyst Crypto Obi (@obi_eths), who illustrated the historical response of the memes piece to the occurrence conditions.
As shown in the graph below, the first time that the medal of the same became occurred, it was in September 2023, four months after its launch. In particular, the condition of surveillance was followed by 31 days of consolidation before Pepe ends up embarking on new heights of all time in the weeks that followed.
A similar trend occurred in August 2024, when Pepe entered a condition of occurrence for the second time. This was followed by 31 days of additional consolidation until September 6, when another upward trend started.
Accumulation phase? What to expect then
With Pepe now entering another condition of occurrence, the historical models suggest that the same piece could Stay in a consolidation phase for at least the following month. If past trends are repeated, this period could serve as an accumulation window for investors who are ready to show patience and position themselves before a potential gathering.
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The schedule of this planned wave should start on March 10, which is exactly 31 days after Pepe has entered the recent occurrence. From there, the memes piece could try to reflect its past rebounds by organizing an prolonged decision which could push its price beyond its top of 0.00002803, which was recorded on December 9, 2024.
When writing the editorial’s time, Pepe is negotiated at $ 0.00,000,95444, 65.8% below this top of all time.
Shutterstock star image, tradingView.com graphic
