The post PEPE at a crossroads: A rebound or breakdown, what’s next? appeared on BitcoinEthereumNews.com.

PEPE stands at a crucial point—if it holds above $0.0000092, a rebound could follow. The number of total addresses holding PEPE with a balance has steadily increased, reaching 383.6K. Recently, Pepe [PEPE] has emerged as a token of interest for many traders and investors. The token stands at a crucial point—if it holds above $0.0000092, a rebound could follow. However, breaking below this level may lead to a decline towards $0.0000032. Can PEPE hold the line? Analyses made by AMBCrypto indicated that PEPE’s price has fluctuated around key Fibonacci levels. At press time, it hovered near the 0.786 level at $0.0117220, a crucial support zone that has seen significant trading activity. Source: Coinglass Alternatively, the volume profile indicated strong interest around this area. Resistance at the 0.236 level of $0.0218044 has been tested multiple times, but the price has failed to break through, establishing a ceiling for the current trend. If the trend line support holds, a rebound could materialize. Conversely, a break below may push the price lower towards the 0.382 level at $0.0191309, reinforcing the ongoing struggle between bullish and bearish forces. The battle between buyers and sellers Analysis of the distribution of addresses holding PEPE revealed key insights into market sentiment. A significant portion of addresses were ‘in the money’ below $0.000003, suggesting many holders acquired the token at lower prices and remained profitable. Source: IntoTheBlock Meanwhile, a concentration of ‘out of the money’ addresses existed between $0.000013 and $0.000016, indicating potential selling pressure at these levels. If the price moves upward, these holders may offload their tokens to break even, creating resistance. The balance between these groups plays a vital role in determining whether PEPE rebounds or declines further. PEPE sees unpredictable swings PEPE’s volatility has remained significant, with a recent reading of 117.61% on the 16th…

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Filed under: News - @ February 16, 2025 4:13 pm