Following this notable price drop, the meme coin has reached a crucial support level of $0.00000928, which has a history of price reversals.
Crypto meme coin PEPE (PEPE) is positioned for an upside rally following a 28% price drop in recent days.
The meme coin reached a crucial support level of $0.00000928, which has a history of price reversals.
This price reversal is gaining attention, with an outflow of $20 million in PEPE from exchanges, indicating potential accumulation.
Traders are also betting on the bullish side, with traders holding long positions over-leveraged at $0.00000897, and traders holding short positions over-leveraged at $0.00000955.
Technical analysis shows PEPE reaching a crucial support level of $0.00000886, which could lead to a 36% price surge to the resistance level of $0.000013.
However, PEPE is currently trading below the 200 Exponential Moving Average (EMA) on the daily time frame, indicating a downtrend.
At press time, PEPE is trading near $0.0000094, with a 2.10% price drop in the last 24 hours and a trading volume decrease of 10%.
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