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Notcoin PEPE has entered a correction phase, sparking questions from investors about what might come next. After strong upward momentum, the meme coin encountered resistance at $0.00001152, leading to a dip of around 3.5%. Now, all eyes are on its potential support levels and whether they might signal a reversal.
What Triggered the Correction?
PEPE’s recent decline was largely influenced by resistance at $0.00001152, followed by a bearish shift on the 4-hour chart. Additionally, the Relative Strength Index (RSI) has moved downward, indicating a cooling of the bullish trend that initially fueled its ascent. As RSI falls from overbought conditions, some buyers may be hesitant, waiting to see if PEPE correction phase moves into oversold territory for potential accumulation.
Key Levels to Watch for a PEPE Rebound
- Primary Support at $0.00000766: Historically, this level has provided significant stability for PEPE. If this support holds, it could ignite renewed buying interest and a potential bounce.
- Downside Risk at $0.00000589: Should the $0.00000766 support fail, we could see further declines toward $0.00000589—a critical level to monitor for any continued downward trend.
While the short-term outlook for PEPE is cautious, some indicators suggest that the asset may find stability soon. For example, on the daily chart, PEPE remains above its 100-day Simple Moving Average (SMA), often a sign of underlying strength. Additionally, the RSI’s descent could indicate oversold conditions in the near future, paving the way for renewed buying interest.
What’s Next for PEPE?
For those closely watching PEPE’s performance, the next few days will be crucial in determining whether the meme coin can bounce back or if further corrections lie ahead. Investors should keep a close watch on support levels, as well as key technical indicators like RSI and SMA to gauge potential price action.
At CriptoBeast, we remain committed to providing timely insights and updates as PEPE’s journey unfolds. Invest with CriptoBeast and watch watch your portfolio grow!
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