Is it Too Late to Buy Pepe Coin? PEPE Coin Price Plummets 15% in 7 Days as Launchpad Approaches $1 Million
Despite an incredible surge of over 50,000% between April 15 and May 5, Pepe Coin (PEPE) is experiencing a significant decline of more than 60% from its peak, with 15% of the drop occurring in the past week.
Uncertainty looms over the meme coin's future potential, causing market participants to question how much further the crypto prices may fall.
A glimpse at the EMAs on the 4-hour chart spells trouble for the Pepe coin price. The 20-EMA is at $0.00000116, the 50-EMA resides at $0.00000125, and the 100-EMA sits at $0.00000134.
The fact that shorter-term EMAs are below the longer-term ones indicates a continued downtrend.
This bearish pattern is supported by the RSI of 46.88, slightly higher than yesterday's 39.09 but still below 50 to show the presence of sellers.
Similarly, the MACD histogram is -0.00000006391, less negative than yesterday's -0.00000007741 but still signaling upward momentum challenges that could lead to a further price decline.
In contrast, the trading volume shows an optimistic scenario with a 27.00% increase over 24 hours to $241 million, according to CoinMarketCap.
The market cap also looks slightly bullish with an impressive jump of 20.23% to $492 million.
However, these positive signs should be treated cautiously as the Pepe coin price of $0.000001236, though up 3.06% for the day, faces strong resistance at the Fib 0.786 level of $0.000001258.
Pepe Coin's support is between $0.000000981 and $0.000001007. Failure of these levels could see the Pepe Coin price retest lower support at the Fib -0.236 extension level of $0.000000850, near the previous horizontal support on May 3.
The current Pepe Coin technical indicators present a mixed outlook. Although some bullish elements have emerged, bearish undertones
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