PEPE Price Faces Test Again! Key Support Level Determines Future Direction

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Recently, PEPE's price has fallen back to the key support level of $0.00001748, facing significant selling pressure. Although there was a brief rebound, it failed to maintain an upward momentum, and now PEPE is at a critical moment, with $0.00001748 determining its future direction.

Why Did PEPE Retrace?

PEPE's upward momentum could not be sustained, mainly because bulls failed to break through higher resistance levels, leading to a lack of market confidence. Bearish forces have regained control, causing a price decline. Additionally, the overall market sentiment has become cautious due to fluctuations in the cryptocurrency market, making the adjustment in PEPE's price inevitable.

Key Support Level: Can $0.00001748 Hold?

$0.00001748 is currently the key support level for PEPE, which has historically provided support during multiple declines. If this support level holds, it may attract buying interest and push PEPE to rebound again, challenging the high of $0.00002721. However, if it falls below $0.00001748, PEPE may continue to decline, testing lower support levels such as $0.00001313.

PEPE's future trend still depends on market sentiment, trading volume, and overall market performance.

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