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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Bulls Falter As PEPE Slide To $0.00001748: Key Support In Focus

Godspower Owie
Godspower Owie
7 months ago
3 mins read
PEPE

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PEPE bullish momentum has taken a hit, with the price retreating to a crucial support level at $0.00001748. This setback puts the bulls under pressure to hold the line as bearish forces regain strength. 

After an initial rally showed promise, the inability to sustain upward movement signals a critical moment for the meme coin’s price trajectory. PEPE now faces a decisive retest, with the $0.00001748 level emerging as a key point of contention between buyers and sellers.

If the bulls manage to defend this support, it could act as a springboard for a rebound, setting the stage for a renewed attempt to break through higher resistance levels. However, failure to hold above this threshold may result in heightened bearish activity, pushing PEPE further downward and signaling a deeper correction.

PEPE Retreat To $0.00001748: What’s Driving The Pullback?

The inability of PEPE’s bulls to maintain upward momentum has been a primary factor in the price retreat. Buying pressure has dwindled after reaching resistance levels that tested market confidence, allowing bears to regain control. Its failure to generate sufficient volume to break through higher resistance zones suggests that the rally lacked the strength for sustained upward movement.

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Key technical indicators, such as the Composite Trend Oscillator, have been signaling potential drop conditions in recent trading sessions. As a result, PEPE’s price correction was anticipated as the market sought to restore balance. The indicator’s move toward the neutral levels reflects this shift, while the 100-day Simple Moving Averages (SMA) show bearish crossovers that reinforce the current downtrend.

PEPE
Composite Trend Oscillator reflects bearish conditions as PEPE drops toward $0.00001748 | Source: PEPEUSDT on Tradingview.com

PEPE’s retracement must also be viewed in the context of the broader cryptocurrency market. Recent volatility in major assets like Bitcoin and Ethereum has created an uncertain environment, causing smaller tokens like PEPE to experience amplified price swings. Bearish sentiment across the market has likely weighed on PEPE, compounding its struggles to maintain higher levels.

Key Support Analysis: Can $0.00001748 Hold?

The $0.00001748 level has emerged as a critical support zone for PEPE as bearish pressure intensifies. This level has historically provided a strong floor, preventing deeper declines during previous downtrends. Its ability to hold hinges on several factors, including market sentiment, volume dynamics, and broader cryptocurrency market conditions.

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Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead

2 months ago

If the $0.00001748 support holds firm, it could ignite renewed buying strength, providing bulls the capacity to regain control and drive the price higher toward its previous peak of $0.00002721. A decisive breakout above this resistance might pave the way for the formation of new highs, signaling a shift in market sentiment and stronger upward momentum.

However, a clear break below $0.00001748 may indicate more downside risk, potentially driving PEPE toward the next critical support at $0.00001313. Once this level is breached, the price could continue to decline, testing additional support zones.

PEPE
PEPE trading at $0.000017 on the 1D chart | Source: PEPEUSDT on Tradingview.com
Featured image from Medium, chart from Tradingview.com
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Godspower Owie
Godspower Owie

Godspower Owie

My name is Godspower Owie, and I was born and brought up in Edo State, Nigeria. I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life.

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My parents are literally the backbone of my story. They’ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won’t trade them for anything else in this world.

I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments.

When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency.

Trust me, I’ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that’s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets.

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One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others.

I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams.

I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I’m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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