Token-PEPE meme could fall by 18% if buyers fail to hold the nearest support level.
Over the past three months, the digital asset’s price has fallen by more than 55%, and by approximately 75% over the past year. A slight price increase after November 21st brought some relief, but selling pressure continues to dominate the market, analysts report.
Some believe that the number of large investors has increased during this period, although retail sales are putting short-term downward pressure on the PEPE rate.
Technical indicators are giving a mixed assessment of PEPE’s outlook. The Relative Strength Index (RSI) is showing a hidden bearish divergence: the pattern is forming upper highs while the price is forming lower lows, indicating insufficient strength in the recent upward movement.
If current trends continue, Memcoin could fall to nearby support levels, representing a decline of approximately 18% from current levels. If the price falls below this support level, even more significant losses are possible.
Market experts believe that PEPE needs to break through nearby resistance levels to reverse direction before a meaningful recovery can begin.