- Pepe showed a bullish signal but remained in a downward trend, confronted with key resistance.
- Falling active addresses and transaction volumes hindered Pepe’s potential rebound.
Pepe [PEPE] Recently a buying signal showed the weekly graph, thanks to the TD sequential indicator. Although this suggests a potential reversal, Pepe has already exchanged for a long period in a downward trend.
At the time of the press, Pepe traded at $ 0.00009926, which reflects an increase of 3.90% in the last 24 hours. However, can this bullish signal reverse the current falling trend and cause a persistent rally?
Can Pepe break the key resistance levels?
The price action indicated that the cryptocurrency was testing the most important levels, but it was still confronted with considerable resistance. Pepe consolidated around $ 0.000099, with the following resistance zones for $ 0.0001395 and $ 0.0002108.
The TD -sequential indicator purchase signal suggested A potential reversal, but Pepe’s ability to break through these resistance levels will determine the following course of action. If it does not push higher, the downward trend can continue.
In addition, the Relative Strength Index (RSI) value of 35.56 indicated that the Memecoin was approaching over -sold territory, which added further uncertainty to the potential rebound.
Source: TradingView
What is behind the falling daily active addresses?
Despite the purchase signal, daily active addresses showed a relevant decline. From February 13, Pepe only had 976 active addresses, a remarkable decrease of previous months.
This decline suggested decreasing interest from retail investors, who could further hinder its recovery. If the cryptocurrency does not house user interests, the potential for a persistent rally becomes increasingly unlikely.
Pepe must tackle this decrease in activity to prevent further pressure on the price.
Source: Santiment
Will the transaction volumes become weakness signaling?
The number of transactions has also decreased. On February 13, the cryptocurrency registered only 782 transactions, considerably lower than its peak volumes.
This drop indicated that market participants were not so involved, so that growth was possible in the short term.
Without an increase in transaction volume, Pepe can have trouble getting a grip and he can continue his downward movement.
If it succeeds in arousing renewed interest rates, the number of transactions could, however, increase, which supports the potential for an upward move.
Source: Santiment
What do big holders think of the future of Pepe?
Great holders have shown uncertainty about the future of the cryptocurrency. Net streams of tokens of large investors are considerably fluctuating, indicating that large players do not make strong, decisive movements.
The 7-day change for large holders has a significant decrease of -35.93%, while the 30-day change has increased by +67.75%.
However, the 90 -day change shows a more significant decrease of -57.86%, which reflects a cautious long -term prospect.
This cautious attitude among large holders could prevent the memecoin from maintaining a bullish momentum and can contribute to the persistent downward trend.
Source: Intotheblock
Despite the bullish signal from the TD sequential indicator, Pepe continues to act in a downward trend with falling active addresses and transaction volumes.
The RSI lecture suggests that Pepe is approaching over -selling conditions and that large holders remain careful.
For now, the prospects remain uncertain and will be crucial in the coming days to determine whether it can reverse the downward trend.
