#BTC☀ #PEPE市值超越LTC #pepe⚡ $PEPE coin recent drop below a key long-term support level has traders worried about its future. While Pepe has shown resilience as a meme coin even during market downturns, its current position suggests that further declines might be on the horizon. If it doesn't regain support soon, things could look grim for Pepe, especially with a large number of tokens at risk of losing value if the bearish trend persists.
### Will Pepe Coin’s Price Fall Further?
Pepe’s recent price movements have been marked by a clear downtrend, with lower highs and lower lows forming on the 4-hour chart. Here are the key levels to watch:
- **Resistance 1 (R1):** 50-day EMA at $0.00000874
- **Resistance 2 (R2):** 200-day EMA at $0.00001033
- **Support 1 (S1):** Previous low at $0.000007
- **Support 2 (S2):** Psychological level at $0.000006
If Pepe can’t break through these resistance levels, it could drop another 21% to $0.000006.
Recent candlestick patterns hint at continued bearish momentum, possibly forming a bear flag that could lead to more downside. The overall trend suggests Pepe is in a corrective phase, and the bearish pressure may continue.
### Technical Indicators and Market Sentiment
- **EMAs:** The price is trading below both the 50-day EMA ($0.00000878) and the 200-day EMA ($0.00001033), signaling strong bearish momentum.
- **RSI:** Currently at 47.45, just below neutral, indicating there’s still room for the price to fall.
- **Chaikin Money Flow (CMF):** At -0.04, suggesting mild selling pressure.
A classic bearish divergence is forming, with decreasing volume since August 5, despite the price trying to climb. This points to a possible continuation of the downtrend. However, if Pepe manages to rise above $0.00001031, it could invalidate this bearish outlook, potentially pushing the price up to $0.000012 and $0.0000135, where the next resistance levels lie.
### On-Chain Metrics and Risk Zones
According to Coinalyze, Pepe's open interest (OI) has dropped by 5.8% in the last 24 hours, down from 9.7% the day before. This decline in OI, along with consolidating prices, suggests more downside risk for Pepe. Increasing selling pressure could make it tough for Pepe holders, with 17.28 trillion tokens (out of 241.52 trillion) at risk of turning unprofitable if the bearish trend continues.
Currently, 57.8% of Pepe holders are in profit, but if the price continues to drop, that number could fall to 50.6%. On the flip side, if the market turns bullish, over 10 trillion tokens currently near the resistance zone could move into profitability, which would improve overall sentiment among holders.
### Conclusion
Pepe coin is facing significant challenges, with the potential for further declines. Traders should keep a close eye on technical indicators and market sentiment to navigate this volatile period effectively, Hope for a bullish pepe and think positive PEPE will create new millionaires. **Notice:** The information provided here is for educational purposes only and should not be considered investment advice. Cryptocurrency investments carry risks, and it’s important to do your own research before making any financial decisions.
KING PEPE
