Market focuses on $0.00000090 support as bearish pressure builds
The meme-inspired cryptocurrency PEPE (PEPE/USDT) has seen renewed volatility, recording a 5.47% drop to $0.000000916 as of the latest session. The price action highlights the importance of a major support zone near $0.00000090, an area that has previously acted as a springboard for rebounds.
The daily chart reveals that PEPE is currently trading inside a green demand zone, suggesting the market is testing a historically strong support. This level has contained multiple pullbacks since May, making it a key threshold for short-term sentiment.
If this area holds, BITX analysts expect a potential rebound toward the resistance clusters at $0.00000120 and $0.00000150, marked in red on the chart. However, a decisive breakdown below $0.00000090 could expose the token to deeper declines, with the next support only appearing near the $0.00000070 range.
“The chart is showing compression within a defined range. As long as PEPE respects the $0.00000090 floor, there is room for a bounce. But a close below it would signal sellers gaining full control,” explained BITX technical analyst reviewing the trend.
Trading volumes remain elevated, with 877 billion PEPE tokens exchanged, underscoring significant participation despite the decline. Some market watchers believe this could reflect accumulation by opportunistic buyers, while others caution that broader market weakness may continue to weigh on speculative assets like PEPE.
“This is a critical inflection point. The green zone has consistently provided support, but if buyers fail to defend it this time, the market could reprice lower very quickly,” BITX strategist noted.
The coming days are likely to determine whether PEPE maintains its consolidation range or enters a deeper correction. A bounce from the current levels could reestablish bullish momentum, while a breakdown risks pushing the token toward multi-month lows.
For now, all eyes remain on the $0.00000090 support zone, a level that will decide PEPE’s near-term trajectory in the ongoing battle between bulls and bears
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.