Pepe Coin entered a lower market this year after diving 65% compared to its top of all time.
Pepe (Pepper), the second largest Ethereum (Ethn) Same corner after shiba inu (Salogner), plunged to the key support at $ 0.000010.
Although its decrease is aligned with the wider sale of cryptography, it is also influenced by the underperformance during Ethereum.
Ethereum, the largest layer-1 blockchain, has lagged behind other major blockchains such as Bitcoin and Solana. He dropped 5% in the past 12 months, while Bitcoin and Solana have jumped by more than 70%.
Ethereum has also lost market share in several sectors, including decentralized finances, parts even, and Non -pounded tokens. This trend has had an impact on many tokens based on Ethereum, which have underperform while investors focus on assets within the Solana ecosystem.
Ethereum is likely to increase to $ 4,000, because the medal has formed an upward triangle model on the two -week graph. This model is characterized by a level of horizontal resistance and a diagonal trend line composed of higher and higher highs.
A strong bullish escape will be confirmed if Ethereum exceeds the level of resistance of $ 4,000. A broken broken above this price could increase the probability of ether reaching $ 5,000 in the long term.
Technical analysis of Pepe Price
A strong escape from Ethereum prices can also raise Pepe and other tokens based on Ethereum. The daily graphic suggests that Pepe is positioned for an important bullish break.
Oscillators such as the price percentage oscillator and the relative force index began to form a bullish divergence model. This divergence occurs when these oscillators rise up while the price of the asset remains in a downward trend.
At the same time, Pepe forms a lower divergence scheme, which consists of two converging descending trend lines. These lines are approaching their level of confluence, a point where bullish eruptions often occur.
The first key level to monitor PEPE is the mobile average of 200 days to $ 0.00001351, which represents an increase of 35% compared to its current price. Other gains could push Pepe to its summit of $ 0,000028, marking an increase of 175%.
However, if Ethereum continues to weaken, Pepe could decrease more, initially to $ 0.00,00060 and then to $ 0.00,00038, which marked its lowest fluctuations in August and April from last year.