PEPE Coin Mayhem: Can the Meme Coin Recover?
In the last day, PEPE, which was inspired by memes, dropped by around 6.54%. At the time of writing, the token’s 24-hour volume was $973.28 million, and its current price was $0.00001048. PEPE has also lost 11.11% in the last week due to market pressure from significant selling and liquidations.
According to cryptocurrency researcher Ali Martinez, PEPE has to recover $0.0000118 as support in order to prevent a decline toward $0.0000097. The token is currently just below that threshold, at about $0.00001126. The next supports are located close to $0.0000108, $0.0000105, and $0.0000097 if it doesn’t recover.
PEPE RSI Nears 27: Could This Trigger a Relief Rally?
As PEPE trades close to the lower band on the 4-hour chart, the Bollinger Bands are expanding. Strong selling pressure and elevated volatility are reflected in this setting. The short-term trend remains bearish because the token is below the middle SMA line.
The token is in the oversold region at the moment, as the Relative Strength Index (RSI) is close to 27. Strong selling momentum and the possibility of a brief rebound are frequently indicated by such readings. An RSI moving over 30 for an extended period of time would indicate that buyers are intervening.
PEPE Price Eyes Symmetrical Triangle Breakout
The market has been seeing recurrent selling and recording lower highs. On the daily chart, PEPE is moving inside a symmetrical triangle, according to analyst Token Talk. A breakout above the triangle might target $0.0000130 to $0.0000145. The price action is currently probing the $0.0000108 to $0.0000115 support zone. PEPE may continue its downward trend toward $0.0000097, the next significant support region, if it remains below $0.0000118.
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