PEPE Price Hints at a 20% Plunge This Month 📉
Crypto Analyst Predicts PEPE Downtrend
With Bitcoin falling below its crucial support level of $68,000, memecoins have suffered significant losses, and the Pepe token is no exception. Over the past day, Pepe has corrected by about 2%, and over the past week, it has dropped by 13.96%.
Will Pepe's price test its all-time high (ATH) again, or will it fall to its critical support level of $0.00000880 this June? This article explores the market sentiments and price analysis for Pepe memecoin this week.
#### Pepe Coin Price Retests Major Support
After a week of weak performance, Pepe rebounded and surged by 157.85% before pulling back at the $0.00001150 resistance level. The bulls regained momentum at the $0.00000880 support level, leading to a 2X run and a new ATH of $0.00001718 on May 27.
Pepe Price Analysis
However, following this new ATH, Pepe experienced a bearish reversal. The coin has been under selling pressure, with the MACD indicator showing a significant rise in the red histogram, suggesting increased selling pressure. The averages also indicate a sharp decline, implying further value loss.
Will PEPE Price Hit $0.00002 Soon?
If the market maintains the price above the $0.00001150 support level, the bulls may regain momentum, pushing the PEPE price to test the $0.00001410 resistance level. If they succeed, Pepe could retest its previous ATH this month.
On the other hand, if the bears take over, Pepe could break its $0.00001150 support and head toward the crucial $0.00000880 support level in the coming weeks.
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