Pepe (PEPE) Price Analysis
The recent bearish move forced the Pepe price to fall below the lower support that formed a strong base since the beginning of the month. At the beginning of the month, the price dropped by over 40%; however, then the bulls came and dominated the rally. Although the bulls worked hard to mitigate the selling pressure, the bears are not done yet. Therefore, the concern lies with the PEPE price rally as a larger loss is expected if Pepe fails to recover from the current levels.
Considering the technicals, it suggests that the price is preparing to give up its gains as the technicals are not in the bulls’ favor. The MACD remains in the negative zone, showing the growing strength of the bears. The selling pressure is increasing and cooling down, suggesting that the bears still have a firm grip on the rally. Also, the RSI is moving towards the lower barrier as there is a possibility of a break below the support at $0.000007, which is imminent.
Shiba Inu (SHIB) Price Analysis
Shiba Inu price has lost its grip on the rally as the trend continues to face massive bearish pressure. The volume has dropped sharply, which is dominated by the bears at the moment, which maintains the bearish clouds over the rally. Therefore, the price is expected to maintain a similar trend in the coming days and eventually reach the crucial liquidity zone near $0.0001 very soon.
As seen in the chart above, the price remains stuck in a descending parallel channel and is unable to rise above the average levels. The opening and closing prices of the daily candles are barely different, indicating a huge drop in volatility. The RSI remains anchored at the lower threshold, indicating the possibility of a crash to the lower support zone between $0.00000991 and $0.00000927.
Both memecoins, Shiba Inu (SHIB) and Pepe, remain under bearish influence, and while the closing price of the coming weekend could be bearish, a slight increase in buying volume can be expected in the coming week.
