After experiencing significant upward momentum, the cryptocurrency PEPE is now entering a correction phase, raising questions among traders about its future trajectory. The focus is currently on key support levels that may influence the token's recovery potential.
The analysis points to an initial resistance at $0.00001152, which triggered the current decline, pushing the asset toward the 100-day Simple Moving Average (SMA). Falling below this level could increase selling pressure.
The Relative Strength Index (RSI) has also shown a drop in bullish strength, indicating a possible deeper correction as it moves from an overbought zone towards a more balanced state.
The daily chart reflects significant negative movement with PEPE still trading above the 100-day SMA, yet strong selling pressure suggests limited upward momentum.
Key support levels such as $0.000000766 are highlighted as potential zones where PEPE might stabilize or rebound, though a break could lead to further decline.
