$PEPE

The price of the meme coin Pepe (PEPE) has experienced sharp fluctuations in the last 24 hours. According to crypto.news, the main factor is the failure of this coin to break through an important resistance area, namely the Fibonacci level of 0.618, which is often considered a reversal point in technical analysis.

After failing to breach that level, PEPE immediately dropped to the lowest price area in its trading range. Now, this token is at a crucial point. There are two most likely scenarios, namely forming a higher low (a low that is higher than before) which indicates potential growth, or continuing to drop if the support fails to hold.

One important level that traders are currently paying attention to is the point of control (PoC), which is an area with high transaction volume and other technical support from the second Fibonacci level. If the price can bounce from here, there is a chance that the upward structure remains intact.