Pepe Coin

Pepe

Coin

Amid the current correction trend in the crypto market, the <a href="https://coingape.com/price/pepe-coin/" rel="noopener noreferrer nofollow">Pepe coin price</a> witnessed a sharp reversal from the $0.0000108 mark. This bearish downturn pledged the coin’s price by 35% within three days to reach a low of $0.000007. As the Bitcoin price prolongs its correction trend, the pepe price teases a breakdown below $0.000007. key support, signaling the potential for further downfall.&nbsp;
<h2 id="b-pepe-coin-eyes-recovery-after-hitting-fibonacci-level-b">PEPE Coin Eyes&nbsp; Recovery After Hitting Fibonacci Level</h2>
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Amidst the recent memecoin mania in the crypto market, the <a href="https://coingape.com/markets/pepe-coin-price-prediction-pepe-may-plunge-x-amid-market-sell-off-consider-this/" rel="noopener noreferrer nofollow">Pepe coin</a> stands out as an outperforming asset in its [10sector.From the swing of $0.00000109, this frog-themed memecoin rallied 894% to reach a high of $0.00001084.
However, the overextended rally coupled with the BTC price correction below $70000 triggered a sharp reversal in the PEPE price. Thus, the <a href="https://coingape.com/markets/pepe-coin-price-prediction-pepe-may-plunge-x-amid-market-sell-off-consider-this/" rel="noopener noreferrer nofollow">PEPE</a> coin plunged to the current trading price of $0.000008 seeking support at the Fibonacci retracement level of 38.2%.&nbsp;
<blockquote>
 In theory, this correction level provided suitable support for buyers to regain bullish and rebound for higher recovery. Today’s daily candle with long-tailed rejection accentuates the presence of high demand pressures and the potential for buyers to regain control. However, a reversal pattern at this support is needed to get a better confirmation for recovery.
</blockquote>
As per the Fibonacci extension tool, the post-correction rally may lead the OEOEO coin price to $0.000013 or $0.0000147 mark.
<h2 id="b-will-fibonacci-support-hold-against-market-pressure-b">Will Fibonacci Support Hold Against Market Pressure?</h2>
Should the market’s selling pressure continue, the PEPE price could dip beneath the 38.2% Fibonacci support level of $0.000007, potentially triggering a slide to $0.000006. This key horizontal threshold, coinciding with the 50% retracement level, serves as a critical pivot for traders, where any additional decline may indicate a diminishing strength among buyers.
<ul>
 <li aria-level="1">Exponential Moving Average: A 20-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/" rel="noopener noreferrer nofollow">EMA</a> slope at $0.00007 offers additional support for buyers to maintain the recovery trend.</li>
 <li aria-level="1">Relative Strength Indicator: The daily RSI line above 50% indicates the market sentiment stands bullish for this asset.</li>
</ul>
The post <a href="https://coingape.com/markets/will-pepe-coin-price-lose-0-00006-correction/" rel="noopener noreferrer nofollow">Will Pepe Coin Price Lose $0.00006 Support Amid Market Correction?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Will Pepe Coin Price Lose $0.00006 Support Amid Market Correction?

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