PEPE Faces Increased Bearish Pressure Below Key Resistance Level
PEPE faces bearish pressure, struggling to break the $0.00001152 resistance level. The token is currently consolidating, which may lead to a downward move if buyers do not regain control. Key points include:
- Recent failed breakout attempts indicate strong selling pressure.
- The price trades below the 4-hour Simple Moving Average (SMA), reflecting negative market sentiment.
- The Relative Strength Index (RSI) is trending below 50%, suggesting stronger selling than buying.
- Initial support is at $0.00000766; maintaining this level may signal buyer support.
- If prices drop below $0.00000589, further significant declines could occur.
- A surge above $0.00001152 could lead to gains targeting $0.00001313.
Market participants should watch these critical levels as they determine potential short-term price movements for PEPE.
