🚨 PEPE Struggles
$ETH at Key Resistance Level: What’s Next for Traders?
PEPE's price is currently battling to break above the critical
$XRP 0.00001152 resistance level, leading to increasing selling pressure. After failing to gain upward momentum, the token appears to be consolidating, which could signal a potential downturn if buyers do not regain control. With bearish sentiment taking over the market, another wave of selling could push
$SOL the price downward, testing lower support levels in the coming sessions.
Key Levels to Watch: Breakdown or Bounce?
PEPE’s price action is currently consolidating under a key resistance point, which indicates market indecision. The failure to break this barrier shows the strength of the sellers, who are preventing a bullish rally. If the bearish pressure continues to build, PEPE may struggle to rise further and could experience a downtrend. The critical point to watch is whether the 4-hour SMA holds, as breaking it could signal further downside, especially if the RSI drops below 50%.
Critical Support Zones: Where to Look for Reversal or Decline?
With increasing selling pressure, the first key support to monitor is $0.00000766. This level has historically acted as both a psychological and technical barrier, and if PEPE can maintain above it, we may see a stabilization or reversal. However, if the selling pressure intensifies and the price dips below this level, the next major support lies at $0.00000589. This deeper support zone could act as a last line of defense, preventing a further decline. If the price falls below this level, traders may reconsider their positions, as the trend could extend downward.
Bullish Reversal Potential:
If buyers regain control and PEPE manages to hold above $0.00000766, a potential surge could push the price back toward the $0.00001152 resistance level. A break above this level might open the door to further gains, possibly reaching the 100-day SMA and testing the $0.00001313 mark. Traders should stay alert to price action and market sentiment, as the outcome will depend on the ongoing tug-of-war between buyers and sellers.
#PEPE 🚀
#CryptoResistance #AltcoinAnalysis #BTC #DeFi