PEPE coin is currently trading near $0.0000104 after a strong downward wave last week, but it has started to show attempts to stabilize with a slight rebound ranging between +1% and +2% in the last few hours, with a daily trading volume of over $500 million.
Technical indicators:
The Relative Strength Index (RSI) is trading around 47 – 49, indicating neutrality with a slight positive bias, meaning that buyers have started to become active but without strong momentum.
The MACD indicator is still below the zero line, but the crossover of the fast line with the slow line upward is a preliminary signal for a potential bullish reversal if it continues.
The moving averages MA50 are above the current price indicating short-term downward pressure, and MA200 is relatively far, and the price is still below it, with the overall long-term trend being bearish.
Bollinger Band price touches the lower limit and then rebounds, which is a signal that the coin is in a support testing phase, and we may see a short-term rebound.
Support and resistance:
The first support at $0.0000100 is an important psychological level; breaking it may open the way towards $0.0000092, and the second support is $0.0000085.
The first resistance is at $0.0000112; breaking it may attract new buyers, and the second resistance is at $0.0000125, which is the key to returning to a strong positive wave.
In summary, PEPE is currently in a support testing phase, and if it maintains the level of $0.0000100, we may witness an attempt to rise towards $0.0000115 – $0.0000125. However, breaking this support may quickly bring it back to areas below $0.000009.
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