PEPE's recent rally has been halted as the token faces resistance, triggering a potential drop toward the key support level of $0.00001152. Persistent selling pressure raises doubts about the sustainability of its bullish momentum. The market is now focused on whether $0.00001152 can support a price recovery or signal further decline.
On the 4-hour chart, PEPE has turned bearish, moving towards the $0.00001152 mark and the 100-day Simple Moving Average (SMA) after meeting resistance at $0.00001313. The Relative Strength Index (RSI) shows fading momentum, suggesting a potential correction phase and downward movement.
Despite trading above the 100-day SMA, PEPE's daily chart reveals negative sentiment and bearish candlesticks, indicating rising selling pressure. The sustainability of current support is uncertain, and the 100-day SMA becomes critical for a possible reversal or continued decline.
The 1-day RSI decline from 69% highlights easing buying pressure and a possible end to the recent uptrend. A decline to support at $0.00000766 could occur if $0.00001152 fails, whereas holding support may enable bulls to regain control and continue the rally.
