🔥🔥🔥 #pepecoin🐸 Price Risks Losing Major Support As Key Indicator Drops to Weekly Low
Pepe Coin (PEPE) is facing critical challenges as it nears a key support level, showing signs of weakness with a key technical indicator at its lowest in a week. The coin has dropped 10.4% in the past 24 hours, mirroring the broader market downturn, where Bitcoin fell below its crucial $60,000 support.
The decline in PEPE's price, attributed to Bitcoin's 3.4% drop and a worsening macroeconomic outlook, has also reduced its daily profit ratio to a weekly low of 0.34. Despite this, whale activity suggests accumulation at discounted prices, and a spike in trading activity indicates potential undervaluation.
The next major support for PEPE is around $0.000007718. A breach could lead to a decline to $0.00000660, but a rebound might retest $0.00000900 and potentially surge 43% to $0.00001280 if a breakout occurs.
Source - coingape.com
