The cryptocurrency market started the month of November negatively. Following this, top tokens have recorded a significant correction in their respective values with many projects recording a double-digit drop.
Will the memecoin category regain momentum this November with PEPE price heading toward a new high? Or will it plunge toward its lower support levels during the upcoming weeks? In this article, we have covered the short-term prospects!
Pepe Price Breaks Its Important Support Trendline!
The PEPE price has dropped 5.81% in the past 24 hours with a trading volume of $432.57 million. Moreover, it has dropped 6.48% over the past week and 7.22% during the past 30 days. With a market cap of $3.522 billion, it has secured 24th position.
The Simple Moving Average (SMA) has constantly acted as a resistance to the Pepe price chart in the 1D time frame. This highlights increased selling pressure for the memecoin in the market.
Further, the MACD indicator displays a constant red histogram with its averages showing a constant decline. This indicates that the price may continue losing value in the coming time.
Will Pepe Memecoin Reclaim $0.0000150?
If the bulls regain momentum, the Pepe coin price may retest its resistance level of $0.00001150. Maintaining the price above that level could set the momentum for it to head toward its upper high of $0.0000141.
In contrast, if the bears continue gaining momentum, this memecoin could retest its low of $0.00000625. If the bulls fail to regain momentum at that point, it could plunge toward its lower support level of $0.00000400.
Wondering about the long-term possibilities of this Ethereum-based memecoin? Read, our Pepe (PEPE) Price Prediction to decode the possibilities up till 2030!
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