Key takeout
Pepe lost 9% of its value in the last 24 hours and erased some of the profits recorded earlier this week.
Technical indicators remain bullish as Pepe can quickly regain $0.00001077.
Bitcoin falls below $109K, Pepe loses 9%
The cryptocurrency market has become bearish after recent positive performance. Bitcoin, the leading cryptocurrency by market capitalization, has dropped by 1% in the last 24 hours and is now below $109,000.
Negative performance has resulted in the total cryptocurrency market falling to $3.35 trillion. Pepe Memecoin’s native coin, Pepe Memecoin lost 9% of its value in the last 24 hours, delivering the worst performance among the top members.
At the press conference, Pepe is trading at $0.0000980, but could rise higher amongst powerful technical indicators.
Pepe Eyes $0.00001077 Because there is a bullish emotion left
The Pepe/USD 4-hour chart remains bullish, despite the token losing 9% of its value in the last 24 hours. The technical indicators remain positive, suggesting buying pressure from investors.
The Moving Average Convergence Divergence (MACD) line is currently in the positive zone, indicating that buyers are managing the market. Additionally, a relative strength index (RSI) of 56 indicates that Pepe is neutral, but if the Bulls continue to control it, it could enter the territory acquired.
If the bullish trend continues, Pepe can test immediate and formidable resistance between $0.00001070 and $0.00001077. Prices repeatedly tested this zone and struggled to push through.
A sustained and decisive move above this resistance level is a significant bullish signal and could pave the way for testing the mark of perhaps 0.00001100 $.
On the downside, Pepe could be struggling if the Bulls are unable to defend their current support level at 0.00000980. Failing to adhere to this level of support will allow Pepe to immerse itself in the Transaction Liquidity (TLQ) region for $0.0000898. These levels of support are important, especially when short-term pullbacks are expected.
