Pepe coin has experienced a slight decline in price, falling below the $0.0000130 mark after failing to sustain its momentum above $0.0000172. The daily chart shows a break beneath a crucial bullish trend line with support at $0.0000120.
Currently, the price is approaching a significant support level at $0.000010, presenting a potential buying opportunity for investors. Despite the recent correction, Pepe coin has shown strength in its gains, outperforming both Bitcoin and Ethereum in the past month. It successfully surpassed the $0.0000150 resistance and remained well above the 50-day simple moving average.
After reaching a new high of $0.0000172, the price began a downward correction, slipping below key support levels at $0.0000150 and $0.0000140. The 23.6% Fibonacci retracement level was also breached, indicating a potential consolidation phase around $0.0000105 before a potential upward movement.
On the daily chart, Pepe coin is now close to the 50-day simple moving average and the 50% Fibonacci retracement level. If the price holds above the $0.000010 support zone, a fresh increase could be on the horizon. Immediate resistance is expected near $0.0000125, followed by a major hurdle at $0.0000132.
A breakthrough above $0.0000132 could pave the way for a push towards the $0.0000150 resistance, with a significant barrier at $0.0000172. Should the price surpass this level, it may target $0.000020 in the future.
However, if losses continue, the $0.000010 support level and the 50-day SMA are crucial areas to watch. A breach below $0.000010 could lead to further downside towards $0.0000080. A break below this support level may trigger a more significant decline towards $0.0000062, with a potential test of $0.00000470.
In conclusion, Pepe coin’s price remains above the 50-day simple moving average, suggesting a consolidation phase before a potential move towards $0.0000172. Investors should monitor key support and resistance levels for potential trading opportunities.
