### Can Pepe Coin Bulls Overcome Key Resistance?
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#### Pepe Coin's Recovery and Resistance Challenges
Pepe Coin (PEPE) is attempting to recover from a low of $0.00000588 and might test the significant resistance level at $0.0000095. The price recently dropped below the $0.0000110 support level and is now trading under a crucial triangle pattern with support at $0.0000095 on the daily chart. While the price may bounce back, it could face challenges around the $0.0000095 level.
In recent days, Pepe Coin (PEPE) has seen a steady decline from the $0.0000132 resistance level, particularly after Bitcoin and Ethereum fell below $2,800 and $60,000 respectively. This downturn led PEPE to drop below the $0.0000110 support and the 50-day simple moving average. The price even fell below the $0.0000080 support, eventually reaching a low of $0.00000587.
Currently, PEPE is trying to recover from this low. It has moved above the $0.00000750 resistance zone and surpassed the 23.6% Fibonacci retracement level of the decline from the $0.0000132 high to the $0.00000587 low. However, several significant hurdles remain. The first key resistance is around $0.0000088, followed by the major resistance at $0.0000095, which is close to the 50% Fibonacci retracement level.
A breakthrough above $0.0000095 could lead to further gains, with the next major resistance near the 50-day simple moving average at $0.0000105. A successful close above this level might drive the price toward $0.0000120.
