Pepe Coin’s price has experienced a significant decline of over 50% in recent weeks, struggling to maintain its position above $0.0000080. This downturn reflects the broader trend seen in cryptocurrencies like Bitcoin and Dogecoin. Pepe Coin broke through crucial support levels at $0.000010 and $0.0000095, resulting in a close below the 50% Fib retracement level. The current price action is bearish on the weekly chart, and the bulls may face challenges in protecting the key bullish trend line at $0.0000080 on the daily chart.
To regain momentum, Pepe Coin must overcome the resistance at $0.0000108. A successful close above this level could pave the way for a fresh surge, potentially driving the price towards $0.0000125 and $0.0000142. Further resistance is expected at $0.0000150 and $0.0000172.
However, if the bulls fail to break through the $0.0000108 resistance, Pepe Coin may continue its downward trajectory. The immediate support lies at $0.0000080, followed by the major support at $0.00000725 and the 76.4% Fib retracement level. A breach of this support level could trigger significant bearish movements, potentially leading to a test of $0.0000060 and even $0.00000480.
In summary, Pepe Coin is currently trading in a bearish zone below $0.0000108. The outcome will depend on the bulls’ ability to defend the $0.0000080 and $0.00000725 support levels. Failure to do so may result in a further decline towards $0.0000480.