The famous PEPE meme coin is currently trading around $0.0000106 amid a clear state of fluctuation in the market, with a daily trading volume exceeding $658 million, reflecting the continuation of strong liquidity despite recent price pressures.
Important technical levels
The chart shows that the price is testing critical support and resistance areas that will determine its direction in the coming period.
The first support is at $0.0000107, which could form a potential rebound area if the price maintains it, and the second support is at $0.0000098 – $0.0000100, and breaking it may open the door for further decline towards $0.0000093.
The first resistance is at $0.0000122, and breaking it with a strong close may attract new liquidity and enhance the chances of rising, with the second resistance at $0.0000145 – $0.0000155, which are the expected targets if the upward trend continues.
Reading technical indicators
The RSI indicator is moving at levels 43 – 44, which reflects a neutral position away from overbought or oversold areas.
The MACD indicator is still weak and leaning towards a negative trend, but it is close to a potential upward crossover that could change the picture at any moment.
The 50-day moving average is very close to the current price, indicating that the market is in a state of hesitation, awaiting a clear breakout either upward or downward.
Potential scenarios
The bullish scenario: If PEPE can surpass $0.0000122 with strong liquidity entering, we may see a wave of rise towards $0.0000155 and possibly $0.000018.
The bearish scenario: If the price fails to hold above $0.0000107 and breaks down below $0.0000100, it may open the door for deeper decline towards $0.0000093.
The sideways scenario: Continuing to trade between $0.0000107 and $0.0000122 means that the market will remain in a phase of fluctuation and waiting for a clear signal to determine the next direction.
In summary, PEPE is still moving within a narrow and volatile range where the price faces critical support and resistance levels. Maintaining the current support may provide an opportunity for gradual rise towards resistance, while breaking it may open the way for deeper decline. The market is currently in a phase of waiting and anticipation, and any news or new trend can quickly change its direction.
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