Can Pepe Coin Weekly Sustain Key Support Amid Bearish Trend

Pepe Coin’s value has plummeted below the crucial $0.0000108 support level, indicating a decline and struggling to maintain a position above $0.0000080. The current state of affairs presents a golden opportunity for buyers to enter the market.
Pepe Coin has experienced a significant 50% drop in the past few weeks. Similar to Bitcoin and Dogecoin, its price failed to continue its upward trajectory beyond $0.0000125, resulting in a sharp decline below the $0.0000108 support region. Additionally, the price broke through the $0.000010 and $0.0000095 support levels. This decline was further confirmed by a close below the 50% Fibonacci retracement level.
On the daily chart, Pepe Coin’s price is now well below the 50-day simple moving average and is currently being tested by a crucial bullish trend line at the $0.0000080 support level. The weekly chart also reflects a bearish trend, making it challenging for the bulls to maintain the support provided by the trend line. If a recovery occurs, the $0.000010 level is expected to present a significant obstacle. A breach of this level could lead to a surge towards the $0.0000125 mark, followed by potential resistance at $0.0000142 and $0.0000150. Ultimately, the price may accelerate towards the $0.0000172 level.
However, if Pepe Coin fails to surpass the $0.0000108 resistance zone, it may continue its downward trajectory. Immediate support can be found at the $0.0000080 level, followed by the $0.00000725 level and the 76.4% Fibonacci retracement level. A breach of the $0.00000725 support could trigger significant bearish movement, with the next key support level located at $0.0000060. Further losses may result in a test of the $0.00000480 level.
In summary, Pepe Coin is currently operating in a bearish zone below $0.0000108. Should the bulls fail to protect the $0.0000080 and $0.00000725 support levels, the price could potentially decline even further towards $0.0000480.