The cryptocurrency market continues to face pressure from macroeconomic uncertainties, which is reflected in the prices of digital assets. In this context, the PEPE token has seen a significant decline.
Market Trends
In the early Sunday session, the digital asset market continues its sell-off amid new macroeconomic uncertainties. In the last 24 hours, 175,725 traders were liquidated, with total losses hitting $701 million, nearly 90% of which were tied to long positions.
PEPE's Situation
The PEPE token has also not escaped the decline, falling 18% over the past week. Currently trading at $0.0000092, it marks a return to lower levels after a recent surge. Just last month, PEPE reached a high of $0.0000167, but now those gains have been wiped out.
Outlook and Support
If selling pressure persists, the next significant support is anticipated at $0.00000758. The RSI indicator on the daily chart suggests that PEPE is approaching oversold levels, indicating that a rebound or at least a relief rally could be forthcoming. It's also important to monitor the moving averages at $0.0000119 and $0.0000121, as a crossover here may signal a renewed interest in the token.
In the current uncertainty of the cryptocurrency market, volatility remains high. PEPE and other tokens are subject to significant price swings, and their future movement will depend on the overall market condition and levels of support.
