PEPE price, which caused a stir in the meme coin market due to its recent correction, is now poised for a comeback. Despite a gradual rise in price, the meme coin faces bearish signals that hinder a strong recovery. The Relative Strength Index (RSI) remains below the neutral line, indicating potential oversold conditions. Additionally, profit booking by investors poses a threat, with 26% currently in profit likely to sell holdings. PEPE's price, hovering just above a crucial support line, must maintain this level to avoid a significant decline. Failure to do so could lead to a substantial drawdown towards lower support levels. While a potential recovery rally is possible if the RSI flips into support, the current market conditions suggest caution and vigilance for investors. Read more AI-generated news on: https://app.chaingpt.org/news