PEPE Coin Price Prediction – Will Shorting Bring Additional Profits?

• PEPE fell 15% from its current excessive
• Will brief sellers develop their features earlier than the result of the US election?

Quick sellers have had a wild run this previous weekend attributable to their weakening Bitcoin [BTC] provided bears an opportunity to make a revenue. PEPE was no exception, as brief sellers who entered the market at $0.000010 had already made a 15% acquire on the time of writing.

Will shorting yield extra earnings earlier than the result of the US elections is understood?

PEPE is teetering on October assist

Supply: PEPEUSDT, TradingView

On the time of writing, PEPE’s 15% dump had reached October assist. A crack under assist may encourage the bears to push PEPE even additional down for extra features.

Ought to October assist break, late sellers and early bears may lengthen PEPE to $0.0000080 or the decrease assist zone to $0.0000070 (cyan). That might carry the overall acquire for brief sellers to round 30% if the pullback hits the latter goal.

For the reason that market may decide the following route and even reverse itself after the result of the US elections, it will be advisable to take partial earnings early sufficient.

That mentioned, the below-average RSI studying strengthened the bears’ affect, whereas the tepid OBV supported the bearish thesis.

Nevertheless, a pointy reversal in BTC may invalidate the brief place. In such a case, the 50-day EMA (exponential shifting common) and the trendline resistance (white) might be vital bullish targets in a restoration situation.

Lively PEPE addresses have been deleted

Supply: Santiment

There has additionally been a pointy decline within the variety of energetic addresses since late October, indicating that PEPE noticed muted market curiosity and traction. This supported the bearish guess, particularly earlier than the US election winner was introduced.

Lastly, the PEPE lengthy/brief ratio revealed that roughly 58% of positions had been internet brief on the frog-themed memecoin. This underlined bearish sentiment and one more reason to brief the memecoin.

Learn PEPE [PEPE] Worth forecast 2024-2025

Supply: Coinglass

In brief, the continuing market carnage is nice for brief sellers seeking to maximize their earnings, together with PEPE. Nevertheless, this could solely occur earlier than the market stabilizes after the result of the US elections is understood.

For buyers and people seeking to maintain PEPE, grabbing it at discounted values ​​throughout this panic interval may repay within the medium time period. Particularly if the market recovers strongly after the elections.