Pepe price risks an 18% decline unless buyers hold key support, as whale accumulation rises but retail selling drives short-term weakness.
Summary
- Pepe’s price dropped over 55% in three months, with continued selling dominating despite modest gains after Nov. 21.
- Whale accumulation has increased, but retail traders keep pressure on by moving coins to exchanges and selling.
- Technical indicators show hidden bearish divergence and warn of an 18% potential drop if support fails, with resistance yet to be broken.
PEPE price remains at risk of an 18% decline unless buyers maintain a nearby support level, according to market analysis.
The digital token has declined more than 55% over the past three months and approximately 75% over the past year, data shows. A modest price increase following Nov. 21 provided limited relief, but selling pressure continues to dominate the market, analysts reported.
PEPE price heads for reversal
Whale accumulation has increased during the period, though retail selling maintains short-term downward pressure on the token’s price, according to other analysts.
Technical indicators present a mixed outlook for PEPE (PEPE). The Relative Strength Index (RSI) shows a hidden bearish divergence, with the RSI making higher highs while price made lower lows, suggesting the recent upward movement may lack strength, technical analysts stated.
The token could drop toward nearby support levels if current patterns persist, representing roughly an 18% decline from current levels, according to chart analysis. Should the price fall below that support, deeper losses could follow due to limited strong support levels underneath, analysts noted.
For a directional shift, PEPE would need to break above nearby resistance levels before demonstrating meaningful recovery, market observers stated. Until those levels are cleared, sellers remain in control of the larger trend, according to the analysis.
Wallet data shows that top holders and larger whales have increased their holdings by small-to-moderate amounts over the past month. Simultaneously, increased coin movement to exchanges suggests retail traders are seeking to sell, indicating concern among smaller holders, according to blockchain data.
Smart money has reduced exposure at a low rate, which analysts interpret as an indication that significant buyers are not expecting an imminent price bounce.
The bull-bear power indicator shows that selling pressure may be easing, with bars showing seller dominance gradually shrinking since early October, technical analysts reported. However, buying pressure has not yet taken control of the market.
Some analysts have identified a potential double-bottom pattern forming in mid-December, which could support a price reversal if support levels hold.
PEPE’s market outlook remains dependent on buyers defending current price levels, with meaningful improvement contingent on breaching nearby resistance levels, according to market analysis. While whale accumulation may provide long-term support, it has not altered the short-term bearish picture, analysts concluded.
