The Pepe coin has been experiencing a decline in recent hours, facing strong resistance at the $0.00002 mark. However, buyers are attempting to stabilize the price at the 23.6% Fibonacci retracement level. Currently, Pepe is trading at $0.0000192, having fallen by over 2.1% in the last 24 hours.
The downward trajectory of the 20-day exponential moving average (EMA) at $0.0000197, coupled with the Relative Strength Index (RSI) in bearish territory, suggests that sellers have the upper hand. If buyers manage to hold the price around $0.0000178, the PEPE/USDT pair could potentially rebound to $0.00002 and possibly extend to $0.000025.
Conversely, if sellers manage to drive the price below $0.0000178, increased selling pressure could lead the price to drop to the 50% Fibonacci level at $0.000015, and possibly further to the 61.8% Fibonacci retracement level.