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Pepe PEPE Coin is experiencing a notable downturn in the market, with its price dropping to $0.000009. The meme coin has witnessed a significant decline of 10.71% over the last 24 hours, amidst a trading volume that reached $740,373,747. PEPE Coin is currently navigating a critical juncture in the cryptocurrency market. This was after the PEPE Coin rebounded strongly from the $0.0000078 support level to briefly rise above the resistance at $0.0000091 thus indicating a significant recovery.
An important decline in price has occurred in recent days when PEPE Coin fell from a high of $0.000011 to around $0.0000085.This suggests that bears are controlling the market consistently and for good reason. Besides this, there also exists an additional resistance near the $0.0000096 level due to the simple moving average (SMA) for 9 periods which also indicates a bearish sentiment.
The psychological level ($0.000010) presents immediate resistance for PEPE Coin as it once acted as its support making it a critical level that will decide short-term direction of price for PEPE Coin.
Presently Pepe Coin is consolidating under $0.000009. At present, technical indicators on Pepe Coin are giving mixed signals suggesting ongoing struggles, although they can be resolved later on. Technically Pepe’s Moving Average Convergence Divergence (MACD) lies flat close to the baseline indicating absence of significant momentum either upward or downward. Meanwhile Relative Strength Index (RSI)maintains its position slightly below midline at about 36 reflecting bearish sentiments but not yet entering into oversold area.
Critical support for PEPE Coin stands at $0.0000084 while trades are happening beneath this point.The breach of this key support can increase further sell off thus testing lower supports at $0.0000077 levels.On other hand if Pepe coin can gain some buying pressure then break above resistance formed by $0.000009 then chances of challenging higher resistances lying at and above $0.000010 levels could be realized.This would require a major reversal in market sentiment, which may be driven by broader market recoveries or specific positive news related to PEPE Coin.
Trading volume and active addresses show that there is an increased interest in the coin, but the fear of possible sell-offs is still present in the community.
