- PEPE saw a 3.54% price increase, but resistance at $0.675 must be cleared for further gains toward $0.75.
- Rising trading volume signals investor interest, but PEPE’s MVRV ratio suggests upside before major profit-taking.
Pepe [PEPE] has been showing signs of a potential recovery after weeks of downward pressure.
With the price attempting to break key resistance levels, traders are eager to determine whether PEPE can sustain its recent gains or if another pullback is imminent.
On-chain data, technical indicators, and market sentiment all play a role in shaping its next move.
Pepe coin price prediction: A closer look at the charts
Pepe was trading at $0.62629 at press time, reflecting a 3.54% increase in the last 24 hours. The recent price action suggested a slight rebound after prolonged consolidation.
However, a closer look at the 12-hour price chart indicated that PEPE was still struggling to clear the 50-day moving average at $0.67524, which remained a strong resistance zone.
Source: TradingView
The 7-day price chart also highlights increased volatility, with PEPE experiencing both sharp spikes and pullbacks.
The token attempted to break past $0.65 but failed to sustain momentum, leading to minor corrections.
On-chain data: Volume and market sentiment
One of the key indicators of PEPE’s potential upside is trading volume. Recent on-chain data from Santiment shows that PEPE’s trading volume has been increasing, suggesting growing interest from investors.
However, despite this uptick, overall volume remains below peak levels seen earlier this year.
Source: Santiment
Another crucial metric is the MVRV Ratio [30-day], which helps determine whether PEPE is overvalued or undervalued compared to its historical cost basis.
The chart indicates that PEPE is still in negative territory, meaning there is room for further price appreciation before investors start taking significant profits.
Source: Santiment
Key resistance and support levels
For Pepe to continue its recovery, it needs to break above key resistance levels. The 50-day moving average at $0.67524 is the immediate barrier.
If bulls manage to push PEPE beyond this level, the next major resistance sits near $0.75, a psychologically significant zone where selling pressure could intensify.
On the downside, the $0.58 level serves as the first major support. A break below this could push PEPE towards $0.50, which has historically acted as a strong demand zone.
Can Pepe maintain its momentum?
Pepe’s recent price movements indicate that it is attempting to establish a short-term bullish trend, but challenges remain.
While on-chain metrics suggest growing investor interest, breaking above key resistance levels will be crucial for further gains.
If PEPE sustains its momentum and clears $0.675, it could rally toward $0.75 and beyond. However, failure to maintain current levels may result in another retest of lower supports.
Traders should watch for volume surges and MVRV shifts to gauge whether bullish momentum is strong enough for a sustained breakout.
