PEPE Coin Holds Key Support Despite Bearish Sentiment

Despite a general negative feeling in the cryptocurrency market, PEPE coin has held onto a key support level on price charts since mid-2023. This support has prevented further price drops despite multiple tests in February 2024. If the price stays above this support, a positive market reaction could occur if the overall market improves. Breaking above $0.000001000 could lead to a price rally to $0.0000017000, while falling below $0.0000008500 could cause the price to drop to $0.0000007000. Trading volume decreased by over 30% in the past day, indicating decreased market activity. However, the price stability suggests sellers are not fully in control. PEPE currently has a 12.6% volume-to-market cap ratio, indicating decent trading liquidity. Short-term price charts show periods of both strong buying and selling. The price has been rejected multiple times around $0.00000096 to $0.00000100, while support has held around $0.00000088 to $0.00000090. A momentum indicator called the Awesome Oscillator suggests a possible return of bullish momentum, which could lead to a price increase.