PEPE is currently trading near $0.0000109 after a daily decline approaching -4%. This drop comes after limited movement in a tight range, reflecting a state of anticipation awaiting new catalysts that could move the market
Support and resistance levels:
The first support near $0.000010, maintaining it is essential to avoid a deeper drop
The second support at $0.0000095, breaking it could open the door for a strong corrective wave
The first resistance near $0.000013, breaking it could provide a positive boost to restore confidence
The upper resistance at $0.000028, if surpassed, could witness an extended upward wave
Technical indicators:
The moving averages MA, the price is currently below the short average, indicating short-term selling pressure
The Relative Strength Index (RSI) is moving around 44 points, reflecting a balance with a slight tendency towards selling
MACD is still in negative territory but shows convergence that may indicate a bullish turn if the first resistance is broken
Expectations:
The positive scenario, any strong rebound from support with a breakout at $0.000013 could open the way for a new upward wave
The negative scenario, breaking $0.000010 could drag the price to lower levels and weaken traders' confidence
In summary, the frog is currently in a critical phase confined between important support and nearby resistance. Continued community interest may help it regain strength, but competition with other meme coins makes the road uncertain. Caution is required while monitoring support and resistance levels as a key indicator for the upcoming movement.
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