Can Pepe Coin Bulls Overcome Key Resistance?

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Pepe Coin (PEPE) is trying to bounce back from a low of $0.00000588. The price may continue to recover and test the significant resistance level at $0.0000095.

Pepe Coin’s price dropped significantly below the $0.0000110 support level and is now trading under a crucial triangle pattern with support at $0.0000095 on the daily chart. Although the price might recover from its losses, it could face challenges around the $0.0000095 level.

Pepe Coin’s Recovery Effort Faces Key Resistance Levels

In recent days, Pepe Coin (PEPE) has experienced a steady decline from the $0.0000132 resistance level, especially after Bitcoin and Ethereum dropped below $2,800 and $60,000 respectively.

This downturn saw PEPE fall below the $0.0000110 support and the 50-day simple moving average.

The price even dipped below the $0.0000080 support, eventually reaching a low of $0.00000587. Currently, PEPE is making an effort 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.

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