PEPE Market Analysis

Overview

• PEPE had a bearish bias on the 3-day chart.
• Retracement in mid-2024 might not be repeated due to more bullish market sentiment.

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, indicating that a recovery is more likely than further losses.

According to Lookonchain’s latest update on X (formerly Twitter), a whale who sold holdings during the market drop has been accumulating the memecoin again, reflecting faith in the bulls’ recovery potential.

Will PEPE Repeat This Summer’s Retracement?

On the 3-day chart, PEPE’s price action showed a bearish tint. The structure favored sellers due to the trading session close at $0.00001705 on December 17, below the former higher low of $0.00001729 set on November 26.

To the north, the $0.00001974-$0.00002259 zone represented a fair value gap that could be filled. A bounce to $0.00002-$0.0000225 is expected in the coming days.

PEPE’s rally in April saw a retracement to the 78.6% level three months after forming a new high in late May. If it follows a similar path this time, it could fall to $0.00001067 in the coming weeks before recovery.

However, market conditions are completely different now. From March to October, Bitcoin (BTC) was in a steady downtrend, consolidating within a descending channel.

Read Pepe’s Price Prediction 2025-26

In recent weeks, BTC has tested the $100k level multiple times, hitting a new high at $108k before retracing alongside the stock market in December’s third week. The coming weeks are likely to be more bullish for PEPE. A deeper retracement to the 78.6% level at $0.00001067 is less likely.

We can expect a move towards $0.0000144 with weeks of lower highs and consolidation, followed by a potential surge targeting $0.000042 and beyond.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.