Pepecoin (PPE) has certainly performed impressively over the last month, achieving a 23.7% gain. However, these gains are at risk as PPE’s upward momentum begins to wane.

Currently, PPE has fallen by 2.46% on the daily chart, which could be a sign that the downtrend could continue. According to recent analysis by AMBCrypto, this downtrend could continue as market sentiment leans bearish and there is limited buying pressure to sustain PPE’s price gains.

PPE faces significant resistance level challenges. As of now, PPE is trading within a symmetrical triangle, a pattern that is often seen as a precursor to a price breakout after a period of accumulation. The coin recently reacted to resistance at $0.00001068, a level that has rejected price bounces twice, indicating significant selling pressure in this area.

During this period, PPE has hovered around the $0.00001025 support level. If this support holds and enough buying pressure emerges, the price is expected to bounce back, potentially retesting the resistance level and breaking out of the pattern, pushing PPE towards the upper boundary of the triangle. However, if this support level fails to hold, PPE could fall further back to the lower support level of the ascending triangle, an area of ​​high liquidity that could generate enough buying momentum to push prices higher.

According to AMBCrypto's findings, PPE's current support level seems unlikely to hold, as technical indicators suggest increasing selling pressure from traders. Against this backdrop, investors should pay close attention to market dynamics, allocate funds reasonably, and do a good job of risk management.