- PEPE has a strong short-term bearish bias based on momentum and price action.
- The Fibonacci retracement levels would be pivotal for investors and swing traders.
Pepe [PEPE] traders likely benefited from the volatility of the past week, but this volatility has also been scarce over the past 24 hours. The momentum and volume indicators were at odds with one another.
The price action chart suggested more losses were likely. With Bitcoin [BTC] demand drying up, PEPE bulls might struggle to keep prices afloat.
The short-term range formation at the 61.8% level