The PEPE meme coin has been on a steady recovery, attempting to regain lost ground after a period of volatility. However, its rally has now hit a strong resistance level at $0.00001313, raising concerns about whether the bulls can push through or if the price will face another rejection.
PEPE’s Recent Price Action
PEPE has experienced a notable recovery in recent days, following Bitcoin’s bullish momentum. However, despite its attempts to sustain gains, selling pressure has intensified near the $0.00001313 resistance zone.
At the time of writing, PEPE is trading just below this level, struggling to break past key technical barriers. Bulls need a stronger push to confirm an upward breakout, but failure to do so could trigger a fresh wave of selling.
Why PEPE Is Struggling at $0.00001313
🔴 1. Resistance Zone Holding Strong
- The $0.00001313 level has emerged as a major hurdle, preventing further upside movement.
- PEPE has tested this area multiple times but failed to close above it, indicating strong selling pressure.
📉 2. Technical Indicators Show Caution
- RSI (Relative Strength Index): Currently hovering near the overbought zone, signaling that PEPE may need a cooldown before another leg up.
- MACD (Moving Average Convergence Divergence): Showing a potential bearish crossover, which could hint at a short-term retracement.
- Volume Trends: A decline in buying volume suggests that bulls are losing strength, making it harder to push through resistance.
🏦 3. Broader Market Influence
PEPE’s price action is also closely tied to Bitcoin’s performance. If BTC continues to show strength, it could provide support for PEPE to make another breakout attempt. However, if BTC faces a correction, PEPE could see a retracement as well.
Key Support & Resistance Levels for PEPE
- Resistance: $0.00001313 (current barrier), $0.00001400 (next upside target).
- Support: $0.00001250 (immediate support), $0.00001200 (critical level to hold).
What’s Next for PEPE?
For PEPE bulls to regain control, they need a strong surge in buying volume to break past the $0.00001313 resistance. If successful, PEPE could target $0.00001400 and beyond in the near term.
However, if rejection continues, a pullback to $0.00001250 or lower could be on the horizon. Traders should watch Bitcoin’s movements and overall market sentiment for clues on PEPE’s next direction
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