Pepe Prediction: Is PEPE Ready to Brave Market Bloodbath?
Bitcoin trade below $68,000 support; memecoins suffer losses
#Pepe coin initially weakened but then surged by 157.85%, hitting resistance at $0.00001100.
However, the Pepe memecoin experienced a strong bearish reversal after reaching a new all-time high (ATH) the previous week.
Since then, Pepe coin has faced increased selling pressure in the crypto market.
On the 4-hour chart, PEPE bounced back from the lower support line, indicating positive sentiment.
Currently, PEPE is trading within an ascending parallel channel.
Bulls may target resistance at $0.000015, with expected strong selling pressure from bears.
According to Coingabbar prediction, breaking the resistance near $0.0000150 could initiate an uptrend towards $0.000017.
Conversely, if bears gain momentum, Pepe coin may break its support at $0.00001150 and move towards crucial support at $0.00000880 in the upcoming weeks.
KEY LEVELS :
RESISTANCE LEVEL : $0.00001400-$0.00001750
SUPPORT LEVEL : $0.00001000-$0.00000750
Disclaimer: Coingabbar's guidance and chart analysis on cryptocurrencies, NFTs, or any other decentralized investments is for informational purposes only. None of it is financial advice. Users are strongly advised to conduct their research, exercise judgment, and be aware of the inherent risks associated with any financial instruments. Coingabbar is not liable for any financial losses. Cryptocurrency and NFT markets could be highly volatile; users should consult financial professionals and assess their risk tolerance before investing.
