Bulls Falter As PEPE Slide To $0.00001748: Key Support In Focus
PEPE The bullish momentum took a hit and the price fell back towards the key support level at $0.00001748. The setback puts pressure on bulls to hold on to the bottom line, while bears regain strength.
After the initial assembly Despite showing promise, the inability to sustain the upward trend marks a critical moment in the meme coin’s price trajectory. PEPE now faces a decisive retest, with the $0.00001748 level becoming a key point of contention between buyers and sellers.
If the bulls manage to hold this support, it could serve as a springboard for a rebound, setting the stage for another attempt to break higher resistance. However, failure to remain above this threshold could lead to increased bearish activity, pushing PEPE further downwards and signaling deeper levels. correct.
PEPE retreats to $0.00001748: What’s driving the pullback?
The inability of PEPE bulls to maintain upward momentum is the main factor behind the price pullback. Buying pressure has subsided after reaching a tested resistance level market Confidence, allowing bears to regain control. It failed to generate enough volume to break above the higher resistance area, suggesting that the rebound lacked the power to sustain an upward move.
Key technical indicators such as the General Trend Oscillator have been signaling potential downside conditions in recent sessions. Therefore, a price correction in PEPE is to be expected as the market seeks to regain balance. The indicator’s move towards neutral levels reflects this shift, while the 100-day simple moving average (SMA) shows a bearish crossover, reinforcing the current downtrend.
PEPE’s pullback must also be viewed in a broader context cryptocurrency market. Recent volatility in major assets such as Bitcoin and Ethereum has created an uncertain environment, resulting in increased price volatility for smaller tokens such as PEPE. Bearish sentiment across the market could put pressure on PEPE, making it difficult to sustain higher levels.
Key Support Analysis: Can $0.00001748 Hold?
The $0.00001748 level has emerged as a key support area for PEPE as bearish The pressure intensifies. Historically, this level has provided a strong floor, preventing deeper declines during previous downtrends. Its holding capacity depends on several factors, including market sentiment, trading volume dynamics and broader cryptocurrency market conditions.
If the support at $0.00001748 holds, it may spark fresh buying forces, giving bulls the ability to regain control and push the price towards the previous peak at $0.00002721. a decisive breakthrough on top of this resist It could pave the way for new highs to be formed, signaling a shift in market sentiment and stronger upward momentum.
However, a clear break below $0.00001748 could signal greater downside risks, potentially pushing PEPE towards the next key level support The price is $0.00001313 USD. Once this level is breached, the price may continue to fall, testing more support areas.
