PEPE Drops 2.6% as Resistance Levels Prevent Further Gains

Meme-inspired cryptocurrency PEPE dropped by 2.6% in the past 24 hours, trading around $0.0000915, underperforming the broader crypto market, which saw a 1.4% decline as per the CoinDesk 20 index.

PEPE traded between $0.0000913 and $0.0000951, with an attempted rally stalling near resistance.
The session began at $0.0000939, peaked at $0.000095, but faced selling pressure leading to a decline.
Despite the dip, derivatives markets activity increased, with PEPE outperforming the memecoin sector, which fell by 3% according to the CoinDesk Memecoin Index.
Open interest in PEPE futures reached $560 million, while trading volume was $1.2 billion.
Market focus is on whether PEPE can stay above the $0.000091 support level or risks further decline.
A break above $0.000095 could change sentiment, needing strong volume and supportive broader market conditions.

Technical Analysis Overview

PEPE's 24-hour range spanned $0.0000034, about 4% between highs and lows.
Sellers emerged near $0.000095, establishing it as a resistance level.
Support at $0.000092 held initially but weakened later in the session.
A higher low formation was observed, typically indicating bullish accumulation.
Declining volume suggests hesitation; temporary surges in activity lost momentum as volume decreased.
Without strong buyer return, consolidation may lead to a broader retracement.