PepeCoin Price Prediction: PEPECOIN Tops Meme Coin Losers With 8% Plunge, But This New PEPE 2.0 Goes Ballistic In Presale With $16.4 Million Raised
The PepeCoin price plunged 8% in the last 24 hours to trade at $3.175 as of 03:19 a.m. EST on trading volume that dropped almost 2% to $4 million.
The drop made PEPECOIN the top loser among the biggest meme coins by market capitalization, ahead of Turbo, which suffered a 6% slump, according to CoinMarketCap.
PepeCoin Price On A Bearish Trend
The PepeCoin price picked up momentum in mid-September, soaring from the $2.3 support to the $3.5 resistance, according to GeckoTerminal . PEPECOIN then formed a double-top pattern within this resistance, signalling the possibility of an incoming downward trend.
The PepeCoin price has now breached the previous support level at $3.4 (50-day Simple Moving Average (SMA)) but trades above the 200-day SMA, which now acts as the next support zone.
Furthermore, the Relative Strength Index (RSI) is plunging further towards the 30-oversold region, currently at 33, showing that the token is under intense selling pressure.
The presence of the Fair Value Gap (FVG) also indicates that the price of PepeCoin may plunge even further.
If the bears take control of the major indicators, the FVG places the next support zone around the $2.6 support zone.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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