On the four-hour chart, the Relative Strength Index (RSI) is currently reading at 43.83, indicating some bear power taking hold of the market. A fall below the neutral 50 mark typically indicates growing bearish pressure, and PEPE’s RSI levels suggest that sellers are currently in control, pushing the price down from earlier highs.
With the price movements, PEPE has had a significant trading volume, indicating that many people are still buying even though prices have fallen. In addition to a declining price, high volume figures normally indicate intense selling pressure. Additionally, on the four-hour chart for Moving Average Convergence Divergence (MACD), there is a bearish crossover since the MACD line fell below the signal line. This can be taken as a bearish signal, implying that PEPE might face more downward motions during a short period of time.
