PEPE Bulls Struggle To Reverse Trend Amid Growing Selling Pressure

• RSI and MACD indicators suggest a continued short-term bearish trend for PEPE/USD.
• Market cap and trading volume for PEPE drop during retracement, signaling reduced investor interest.
• PEPE (PEPE) faces bearish pressure as the price dips 2.68% in 24 hours, testing support at $0.000001054.

Pepe (PEPE) witnessed a retracement during the last 24 hours, with its price falling from an intraday high of $0.000001097 to a 24-hour low of $0.000001054, where it found support. PEPE was priced at $0.000001066 at press time, a 2.68% decline from its intra-day high.

During the bearish reign, PEPE’s market capitalization and 24-hour trading volume fell by 2.70% and 16.75%, respectively, to $445.2 million and $42.78 million. This drop in market capitalization and trading volume reflects a fall in investor interest and activity in PEPE during the retracement period.

PEPE/USD 24-hour price chart (source: CoinStats)

If the bearish trend continues and the $0.000001054 support level is breached, the following support levels for PEPE might be $0.000001045 and $0.000001035. Previously, these levels have demonstrated some consistency during past retracements. However, if th…

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