Can PEPE rise against an ongoing market drop?
On the hourly chart, the rate of PEPE is coming back to the recently formed support at $0.000001566. If the daily closure happens near it, the correction can continue tomorrow to the $0.00000015 zone.On the longer time frame, traders should pay attention to the level at $0.000001522.
At the moment, buyers are losing it as there was no reaction after the the price tested it a few days ago. In this regard, the fall may last until the zone of $0.0000012-$0.0000014. Such a scenario is relevant until the end of the month.From the midterm point of view, it is too early to make any long projections as PEPE was listed on exchanges not long ago. Meanwhile, if the drop continues, there might be a bounce back at the mirror level at $0.000001.
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