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PEPE Price Analysis for May 11

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Thu, 11/05/2023 - 18:00
PEPE Price Analysis for May 11
Cover image via www.tradingview.com

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PEPE/USD

The decline of PEPE has turned out to be quite profound, going down by almost 15%.

PEPE/USD chart byTradingView

Image by TradingView

On the hourly chart, the rate of PEPE is coming back to the recently formed support at $0.000001566. If the daily closure happens near it, the correction can continue tomorrow to the $0.00000015 zone.

PEPE/USD chart byTradingView

Image by TradingView

On the longer time frame, traders should pay attention to the level at $0.000001522. At the moment, buyers are losing it as there was no reaction after the the price tested it a few days ago. In this regard, the fall may last until the zone of $0.0000012-$0.0000014. Such a scenario is relevant until the end of the month.

PEPE/USD chart byTradingView

Image by TradingView

From the midterm point of view, it is too early to make any long projections as PEPE was listed on exchanges not long ago. Meanwhile, if the drop continues, there might be a bounce back at the mirror level at $0.000001.

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This level is crucial from the psychological perspective.

PEPE is trading at $0.0000016047 at press time.

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