PEPE is currently trading near $0.000010 with a daily decline of about -3.5% and strong trading volumes exceeding $450 million within 24 hours. The market cap is stabilizing around $4.2 billion, placing it among the strongest meme coins in the market currently
Technical Indicators:
The price is currently close to the 50-hour moving average, reflecting a balance between buyers and sellers.
The Relative Strength Index (RSI) is trading around the 47 level, indicating neutrality, but any further decline could push it into the oversold territory
MACD shows a slight negative crossover indicating continued short-term selling pressure
Trading volumes are still high above $450 million daily, indicating that interest in PEPE is strong even with the decline
Support and Resistance Levels:
The first support at $0.0000095 is a critical level; breaking it could increase selling pressure, and the second support at $0.0000095 is a final safe zone before a deep drop
The first resistance at $0.0000105, breaking it restores confidence and opens the way for an upward trend, and the second resistance at $0.0000113 is a strong confirmation of a trend change if surpassed
In summary, PEPE is still maintaining community momentum and strong trading volume, but the current movement reflects accumulation more than an upward trend. It is an opportunity before the rise, and the positive scenario requires breaking the $0.0000105 level and holding above it to return the upward momentum. Conversely, dropping below $0.0000097 may open the door for further correction
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