Key Conclusions
• PEPE has lost 9% of its value in the last 24 hours, erasing some of the gains recorded earlier this week.
• Technical indicators remain bullish as PEPE could recover $0.00001077 soon.
Bitcoin drops below $109k, Pepe loses 9%
The cryptocurrency market has turned bearish after its recent positive performance. Bitcoin, the leading cryptocurrency by market capitalization, has fallen 1% in the last 24 hours and is now trading below $109,000.
The negative performance caused the total cryptocurrency market to drop to $3.35 trillion. PEPE, the native coin of the memecoin Pepe, lost 9% of its value in the last 24 hours, becoming the worst performer among major memecoins.
At the time of publishing this article, PEPE is trading at $0.00000980, but it could rise amid solid technical indicators.
PEPE aims for $0.00001077 while bullish sentiment persists.
The 4-hour chart of PEPE/USD remains bullish despite the token losing 9% of its value in the last 24 hours. Technical indicators remain positive, suggesting buying pressure from investors.
The moving average convergence divergence (MACD) lines are currently in positive territory, indicating that buyers control the market. Additionally, the relative strength index (RSI) of 56 shows that PEPE is neutral but could enter overbought territory if the bulls maintain control.
If the bullish trend continues, PEPE could test the formidable immediate resistance between $0.00001070 and $0.00001077. The price has repeatedly tested this area and has struggled to break through it.
$𝙿𝙴𝙿𝙴 $ETH