PEPE Bulls Rally Faces Bearish Technical Signals Amid Spot Trader Accumulation
20.04.2025 13:11
PEPE has shown a bullish structure with an ascending triangle pattern that raises expectations of a breakout, supported by recent spot trader activity that saw $37 million worth of the coin accumulated. However, several technical indicators signal caution. Despite a cumulative gain of 3.22% since last week and a bullish chart pattern, factors including prominent wicks at resistance level, a death cross (20-day SMA crossing below 200-day SMA), and a decline in trading volume by 36.4% suggest a looming pullback, with forecasts hinting at a potential 11% drop. Additionally, the Accumulation/Distribution indicator confirms a shift toward a distributive phase as traders begin to sell, adding to bearish sentiment. The mixed technical landscape makes the near-term direction for PEPE uncertain, with immediate downward pressure possibly offset by strategic accumulation by spot traders.
The news presents a complex picture for PEPE's price. On one hand, the bullish ascending triangle pattern and significant spot trader accumulation suggest support and potential upside if a breakout occurs. On the other, bearish signals—such as prominent wicks at resistance, a death cross formation, declining trading volume, and a negative funding rate—indicate that there is a high likelihood of an immediate pullback, with estimates around an 11% drop in the short-term. In the long-term, if the accumulation leads to a stabilization and a clear breakout forms, there could be recovery and further upside. However, the prevailing short-term bearish technical indicators currently carry significant weight, making the immediate outlook cautious.
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