Pepecoin Price Analysis: Will the Falling PEPE Price Lose $0.00000084 Support?

Pepepcoin Price Analysis: Similar to the majority of major cryptocurrencies, the PEPE price prolongs its correction trend amid the increased selling pressure in the crypto market. The downtrend continuation formed new lower lows and lower highs indicating an established downtrend. The falling price recently breached another local support of $0.00000096, suggesting that this memecoin is poised for further downfall.

Also Read: Pepe Craze Enters NFT; Bitcoin Frogs Takes Top Spot

Pepecoin Price Daily Chart 

• The downsloping trendline governs the current downfall in PEPE price
• The $0.000000842 stands as a strong accumulation zone
• The 24-hour trading volume in the Pepecoin coin is $126.5 Million, indicating a 43.5 % loss.

Source-Tradingview

With the June 10th sell-off, the PEPE price gave a decisive breakdown below the $0.000000963 support. By the press time, this memecoin trades at $0.0000009138 and continues to waver below the breached support trying to obtain suitable resistance. 

The breakdown set the prices for a potential downfall of 9% and hit the $0.000000842 multi-month support. On June 10th, the PEPE price showed a long-wick rejection at the $0.000000842 support indicating buyers are actively accumulating at this support.

If the coin manages to sustain above the aforementioned support, a potential reversal will assist buyers to challenge the overhead trend, this downsloping resistance has been carrying a steady downfall in PEPE Price over the past three weeks.

Until this trendline is intact, the PEPE may whiteness an aggressive downfall.

Will Pepecoin Coin Sustain Above the 0.000001 Mark?

Over the last three weeks, the PEPE price witnessed multiple reversals from the downsloping trendline. Thus, the potential buyers waiting for an entry opportunity should wait for a breakout above the overhead trendline. Thus, this will signal an early sign of trend reversal and could push the PEPE price back to $0.0000016.

• Relative Strength Index: Despite a lower low formation if the chart, the RSI slope shows massive recovery indicating 
• Exponential Moving Average: The 50-day EMA acts as dynamic resistance against coin buyers.