PEPE Coin Maintains Key High-Timeframe Support Amid Market Uncertainty

Markets show decreasing trust in PEPE coin, DOGE, and SHIB while focusing on institutional adoption and practical applications.

Markets are shifting their focus away from meme coins like PEPE, DOGE, and SHIB due to decreasing trust in these assets. Instead, markets are highlighting the importance of institutional adoption and practical applications.

Despite the bearish market sentiment, investors are still showing interest in PEPE coin.

A technical analysis of PEPE coin charts reveals a stable higher timeframe structure. The price has maintained a position above an upward trend line, which has acted as support since mid-2023 on the daily chart.

After multiple recent trendline tests, a strong buy-side momentum has prevented PEPE from dropping further. The price area also aligns closely with a historical accumulation zone.

As long as the price remains above this support, the bullish structure in PEPE remains valid. However, a drop below this level would challenge its validity.

Moreover, keeping prices above this support might trigger a positive market reaction in an improved market environment.

In the broader market environment, PEPE demonstrates price stability. It is positioned between its invalidation zone and mid-range resistance area.

After a successful cost break beyond $0.00001000, the cryptocurrency would likely initiate a bullish rally and reach $0.000017000.

However, market forces below $0.000008500 could prevent price sustainability, causing PEPE to fall back to $0.000007000.

Throughout the previous day, market trading numbers decreased markedly, with the PEPE asset registering a substantial decrease of more than 30%.

However, current market data indicates sellers are not completely in control since the price has maintained stability.

The PEPE asset also maintains adequate trading liquidity, which is evident from its 12.6% volume-to-market cap ratio, attracting market watchers to continue monitoring its price movements.

This drop in market volume is also partly explained by investors staying concerned but not fully abandoning the asset.

As a result, another buying wave could rapidly transform the situation.

A technical analysis of PEPE charts reveals a volatile market structure, with periods of both strong bullish and bearish momentum.

Initially, the price followed an uptrend, forming higher highs and lows, which indicated sustained buying interest in the PEPE coin.

However, a sharp decline, highlighted in green on the chart, signaled a shift in momentum as selling pressure overwhelmed buyers, leading to a significant downward move.

This decline could be attributed to profit-taking or rejection from a key resistance zone.

After the downward movement, the price stabilized, showing signs of consolidation followed by a slight upward push.

The resistance level around 0.00000096 – 0.00000100 USDT has acted as a rejection zone multiple times on the chart, suggesting that a break above this level could signal a bullish continuation.

On the other hand, the support level near 0.00000088 – 0.00000090 USDT has held firm, preventing further downside.

A breakdown below this level could indicate a deeper correction in the PEPE price.

The Awesome Oscillator (AO) at the bottom of the chart reflects the shifting market momentum.

Initially, it turned red as selling pressure increased, which confirmed the bearish move.

However, the histogram gradually returns to green, indicating that bullish momentum is returning.

If this trend continues, it could suggest a reversal in price direction.