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PEPE bulls have managed to defend the critical $0.0001711 level, indicating that there may be more upside potential. Despite some significant losses over the past few weeks, the On-Balance Volume (OBV) suggests that selling pressure is not overwhelming, as it has remained above the highs from May. This signals that a recovery could be more likely than further losses. A recent report from Lookonchain on X (formerly Twitter) revealed that a whale who had sold off their holdings during the market decline has resumed buying PEPE. This could suggest renewed confidence in the memecoin's potential for recovery. Looking at the 3-day chart, PEPE's price action has a bearish tone, with the price closing at $0.00001705 on December 17, below the previous higher low of $0.00001729 set in late November. However, there is a key resistance zone between $0.00001974 and $0.00002259, which may serve as a target for any recovery. Therefore, a bounce to the $0.00002-$0.0000225 range could be expected in the coming days. PEPE's price action mirrors some of its behavior from the rally in April, where it retraced to the 78.6% level before making a recovery. If a similar pattern unfolds this

Bitcoin set several new records throughout 2024 and eclipsed the six-digit threshold for the first time, leading the charge amid a broader crypto rally after Donald Trump’s election victory—but its milestone surge to $100,000 wasn’t even the most impressive outperformance of the market by a cryptocurrency in 2024, thanks to several altcoins and meme coins also rising dramatically. Bitcoin—surging by 47% since Election Day—has added about $1.2 trillion to its market capitalization this year as of Dec. 19, surging by 130% to just over $102,000. But it was Pepe, a token named for the meme frog linked to far-right groups, that was the top performer among coins with market capitalizations over $5 billion, gaining about 1,570%, according to CoinMarketCap. SUI, the native token for Sui’s blockchain network, is the next best performer with a 509% gain, while dogecoin, a cryptocurrency touted by Elon Musk in recent years, outgained bitcoin with a 333% surge, during which the meme coin reached highs not seen since the pandemic.$BTC

PEPE bulls have managed to defend the $0.0001711-level. The OBV revealed that selling pressure was not overwhelming, despite the swift losses of the past three weeks. In fact, it has stayed above the highs from May, revealing that a recovery is more likely than more losses. According to Lookonchain‘s latest update on X (formerly Twitter), a whale who sold their holdings during the market drop has been accumulating the memecoin once again. This reflected faith in the bulls’ ability to recover. On the 3-day chart, PEPE’s price action had a bearish tinge. The structure favored the sellers because of the trading session close at $0.00001705 on 17 December, below the former higher low at $0.00001729 set on 26 November. To the north, the $0.00001974-$0.00002259 zone represented a fair value gap that could be filled. Hence, a bounce to $0.00002-$0.0000225 can be expected in the coming days. The PEPE memecoin rally in April saw a retracement to the 78.6% level 3 months after forming a new high in late May. If it takes a similar course this time, it could fall to the $0.00001067-level in the coming weeks before it recovers. However, the similarities need not play out exactly. Market conditions are completely different right now. From March to October, Bitcoin [BTC] was on a steady downtrend, consolidating within a descending channel. In recent weeks, it has tested the $100k-level multiple times, hit a new high at $108k, before retracing alongside the stock market in the third week of December. Therefore, the coming weeks are more likely to be more bullish for PEPE. We might not see a deeper retracement to the 78.6% level at $0.00001067. We can expect a move towards $0.0000144 and a few weeks of lower highs and consolidation, before the meme bursts higher, targeting $0.000042 and beyond.$PEPE

PEPE bulls have managed to defend the $0.0001711-level. The OBV revealed that selling pressure was not overwhelming, despite the swift losses of the past three weeks. In fact, it has stayed above the highs from May, revealing that a recovery is more likely than more losses. According to Lookonchain‘s latest update on X (formerly Twitter), a whale who sold their holdings during the market drop has been accumulating the memecoin once again. This reflected faith in the bulls’ ability to recover. On the 3-day chart, PEPE’s price action had a bearish tinge. The structure favored the sellers because of the trading session close at $0.00001705 on 17 December, below the former higher low at $0.00001729 set on 26 November. To the north, the $0.00001974-$0.00002259 zone represented a fair value gap that could be filled. Hence, a bounce to $0.00002-$0.0000225 can be expected in the coming days. The PEPE memecoin rally in April saw a retracement to the 78.6% level 3 months after forming a new high in late May. If it takes a similar course this time, it could fall to the $0.00001067-level in the coming weeks before it recovers. However, the similarities need not play out exactly. Market conditions are completely different right now. From March to October, Bitcoin [BTC] was on a steady downtrend, consolidating within a descending channel. In recent weeks, it has tested the $100k-level multiple times, hit a new high at $108k, before retracing alongside the stock market in the third week of December. Therefore, the coming weeks are more likely to be more bullish for PEPE. We might not see a deeper retracement to the 78.6% level at $0.00001067. We can expect a move towards $0.0000144 and a few weeks of lower highs and consolidation, before the meme bursts higher, targeting $0.000042 and beyond.$PEPE

$PEPE is currently in a consolidation phase, setting up for potential movement depending on whether it breaks key levels. If the price breaks above 0.00001880, it could signal bullish momentum, and a long entry can target: • Target 1: 0.00001910 • Target 2: 0.00001940 Alternatively, if the price drops below 0.00001860, it may confirm bearish momentum, offering a short entry with targets: • Target 1: 0.00001830 • Target 2: 0.00001800 Wait for a confirmed breakout or breakdown before entering a trade, and manage risks carefully with tight stop-losses.