PEPE Could See 50% Crash If Support Fails – Warns Analyst

Key Takeaways

• $PEPE’s price struggles to find strong upward momentum as analysts warn of a potential 50% drop.

• $PEPE’s price trades around $0.000009 support as bulls and bears await price direction around the key zone.

• A bearish crossover of 50-day and 200-day EMAs on the daily timeframe confirms $PEPE’s bearish trends.

Sensational frog-themed memecoin, $PEPE the frog, has declined by over 50% in the past few weeks following its price rally to a high of $0.000028, creating a historical all-time high for the popular memecoin as many crypto experts and retailers were calling for a price rally towards $0.01.

The price of $PEPE has failed to meet such expectations following its rejection from a high of $0.000028. The price has seen a significant decline, with bears looking to push the price of $PEPE lower.

$PEPE’s price earlier showed some price recovery in the last few days but suffered more price setbacks following Bitcoin’s (BTC) price retracement from $98,000 to a region of $93,000 as altcoins and memecoins suffered more price decline.

With the market looking for a quick bounce above current price points, the price of $PEPE could rally above its key support as price breaking below this region could mean more sell orders activated for $PEPE, which could also lead to a sell-off for the famous memecoin.

Crypto Market Sentiment Around $PEPE

The general market expects the price of $PEPE to bounce from its current support zone to a high of $0.0000125, which could give bulls more room to push prices up following a prolonged price decline.

Ali_charts, a top crypto analyst, took to his X account to describe the current price action for $PEPE as a key decision time for $PEPE bulls as the price sits around the $0.0000095 support zone in a falling channel.

Ali_charts emphasized that a break below the current price point could see the price drop by 50%, which could take the price to a low of $0.0000035.

Other crypto experts have also shared their price expectations for $PEPE. The price of $PEPE is expected to bounce from its current point to the nearest high, giving bulls the needed relief, while bears would be looking for an opportunity to capitalize on $PEPE’s bearish downtrend.

Technical Analysis – $PEPE Price Prediction

Source – $PEPE 1D Price Action From TradingView

$PEPE’s price currently trades at a key area of interest for bulls and bears as the price could bounce to the upside for a quick price recovery or break to the downside with bears looking to take advantage of $PEPE’s price dominating price to a region of $0.0000035.

The price of $PEPE trading below its 50-day and 200-day EMAs (Exponential Moving Averages) with a bearish crossover highlights $PEPE’s current market trends remaining bearish. If the price of $PEPE breaks to the upside with strong bullish volume, the price could change its trend above $0.000015.

Traders and investors are cautious around this level; a clear break above $0.000015 could signal a good entry to open buy positions.