#Pepe coin is currently trading within a Falling channel pattern on the 4-hour chart.
PEPE price has declined by 46% from its 2024 peak, reaching $0.000005800 and falling below the 20-day SMA.
After panic selling, PEPE found support around $0.000006, aligning with the 50% Fibonacci level.
PEPE struggles to surpass the 38.20% Fibonacci level on its daily chart.
The PEPE price's daily chart indicates a short-term squeeze, with Bollinger bands converging and volume significantly decreasing.
Bulls need to regain momentum for PEPE's price to break through initial resistance at $0.000008.
As per Coingabbar Price prediction, Further negative trends could drive PEPE towards $0.000005 support, with potential risk of dropping to $0.000004.
KEY LEVELS :
RESISTANCE LEVEL : $0.000008200-$0.000009500
SUPPORT LEVEL : $0.000005900-$0.000004900
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