Pepe’s daily chart on March 31 reveals continued downside momentum despite a mild intraday recovery. The meme token closed at $0.00000723, up 4.18%, yet technical indicators remained cautious. The RSI and MACD indicators show limited bullish strength, supporting the outlook that bearish pressure may persist.
PEPE Technical analysis: MACD and RSI indicators
The Relative Strength Index (RSI) is positioned at 45.88, below the neutral 50 mark. This shows sellers still dominate, though buying strength has slightly improved. The RSI line recently crossed below its moving average, now at 49.11.
This crossover occurred after a brief rally attempt earlier in March failed to sustain. A continued move below 50 generally reflects weak momentum and declining demand pressure.The Moving Average Convergence Divergence (MACD) indicator reflects a bearish setup. The MACD line stands at -0.00000012, while the signal line holds at -0.00000017. Although the histogram shows light green bars, the values remain near the zero line.
This indicates that recent bullish activity has been weak. Momentum has not shifted strongly enough to confirm a trend reversal. Support remains around $0.00000500, while the short-term resistance appears near $0.00001000. Until RSI and MACD confirm strength above neutral zones, the bearish structure may remain intact going into April.
Current market action: Intraday price action shows temporary upside break
Pepe (PEPE) traded at $0.000057221 on March 31, with a 3.67% daily increase. The 24-hour volume jumped 54.18% to $651.87 million. The market cap also climbed 3.68% to reach $3.03 billion. Despite this upward move, market data signaled persistent bearish patterns seen throughout the 24-hour chart.
The day opened with price fluctuations around $0.00006952, followed by several dips below $0.00006800. These dips appeared frequently, marking short-term resistance zones. However, a strong upward movement emerged after 3:00 PM, pushing PEPE to peak near $0.00007300 before settling lower. The latest price action at 7:45 PM remained around $0.000057221.
It also established that by the end of the day volume had risen to $652.28 million which means that there was heightened activity. This made up 21.44% of the entire market capitalization figure. While the price finished up, short-term falls indicated an extent of selling pressures, which remained an issue. This was in line with other sentiments suggesting that the trend is to remain bearish although brief relief bounces were expected.
