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Recent trading activity shows that PEPE is under increasing selling pressure as the price fell below the key support level of $0.00000766. This decline signals a further downside move, with shorts taking control and aiming for the next downside level of $00000589. A break below this key level raises concerns among traders, as the possibility of deeper losses becomes increasingly likely.
As the momentum turns negative, this article aims to examine the implications of PEPE’s price falling below key support levels. The article will delve into how this breakdown impacts market sentiment and, with the help of key indicators, assess the likelihood of further decline.
Over the past 24 hours, PEPE has fallen 3.51% to around $0.00000724. Its market capitalization stands at over $3 billion, with a trading volume exceeding $652 million. During this time, PEPE’s market capitalization and trading volume have fallen by 3.62% and 0.26% respectively.
Market sentiment changes as price falls below key support level
PEPE price is showing positive bearish behavior, trading below the 100-day simple moving average (SMA) in the 4-hour time frame. Since falling below the $0.00000766 support, the crypto asset has remained stable, showing few signs of recovery.
