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PEPE’s key resistance breach leads to price dip: Is a reversal likely?

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Pepe was not spared the overall market downtrend as its price declined by 23% after retesting a trendline resistance level at $0.00001240.

The crypto market has experienced an overall downturn, with most coins declining below their critical levels.was also not spared, with its price declining by 23% after retesting a trendline resistance level at $0.00001240.

Currently, the level is acting as a moving average support level. This level could provide a strong support level for price reversals.The stochastic RSI indicates that PEPE is oversold. This implies that PEPE may experience a price reversal.AMBCrypto analyzed Santiment’s data on whale activity to find the next price movement. The percentage of stable supply held by whales has increased to 52%.

 

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