PEPE’s bullish momentum has gained momentum, with the price retreating to the key support level at $0.00001748. This setback puts the bulls under pressure to hold the line while the bears recover.
After the initial rally was promising, the inability to sustain the upward movement signals a critical moment for the meme coin’s price trajectory. PEPE is currently facing a decisive retest, with the $0.00001748 level becoming a key point of contention between buyers and sellers.
If bulls manage to defend this support, it can serve as a springboard for a rebound, setting the stage for another attempt to break through higher resistance levels. However, failure to stay above this threshold could result in increased bear activity, pushing PEPE further down and signaling a deeper correction.
PEPE Pullback to $0.00001748: What’s Causing the Pullback?
The main factor behind the price reversal was the inability of PEPE bulls to maintain upward momentum. Buying pressure eased after reaching resistance levels that tested market confidence, allowing bears to regain control. The failure to generate enough volume to break through higher resistance zones suggests that the rally lacked the strength to sustain a sustained upward move.
Key technical indicators such as the Composite Trend Oscillator have signaled potential bearish conditions during recent trading sessions. As a result, PEPE prices were expected to adjust as the market sought to restore balance. The indicator’s movement towards neutral levels reflects this change, while the 100-day plain moving averages (SMAs) show bearish crossovers that reinforce the current downtrend.
The abolition of PEPE should also be seen in the context of the broader cryptocurrency market. Recent volatility in major assets such as Bitcoin and Ethereum has created an uncertain environment, causing smaller tokens such as PEPE to experience increased price volatility. The bearish market sentiment has likely weighed on PEPE, compounding its efforts to sustain higher levels.
Key Support Analysis: Can $0.00001748 Hold?
The USD 0.00001748 level has become a critical support zone for PEPE as bear pressure intensifies. This level has historically provided a sturdy bottom, preventing deeper declines during previous downtrends. Its ability to sustain depends on several factors, including market sentiment, volume dynamics, and broader cryptocurrency market conditions.
If the support at $0.00001748 holds, it could spur modern purchasing power, providing the bulls with the opportunity to regain control and drive the price higher towards the previous high of $0.00002721. A decisive break above this resistance could pave the way for modern highs, signaling a change in market sentiment and a stronger upward momentum.
However, a clear break below $0.00001748 could indicate greater risk of loss, potentially steering PEPE towards the next critical support at $0.00001313. Once above this level, the price may continue to decline, testing additional support zones.
