Markets Show Decreasing Trust in PEPE Coin, DOGE, and SHIB

The market is shifting focus toward institutional adoption and practical applications, leading to decreasing trust in PEPE coin, DOGE, and SHIB.

PEPE Coin Maintains Key High-Timeframe Support

Experts suggest that despite the bearish market sentiment, investor interest in PEPE remains. Technical analysis indicates that PEPE maintains its position above an upward-moving trend line, providing support since mid-2023.

Strong buy-side momentum has prevented PEPE from further price drops after several tests of the trendline in February 2024. The price remains stable within a consolidation zone, closely aligning with historical accumulation areas. This bullish structure remains valid as long as the price does not breach critical support levels, potentially leading to positive market reactions if conditions improve.

PEPE shows price stability amid uncertainty, situated between an invalidation zone and mid-range resistance. A successful break above $0.00001000 could initiate a bullish rally, targeting $0.000017000. Conversely, a fall below $0.000008500 could push the price back to $0.000007000.

Trading activity has notably decreased, with more than a 30% drop in recent days. Despite this, sellers do not completely dominate, as price stability continues. PEPE’s liquidity remains adequate, attracting market watchers who anticipate possible buying waves in the future.

Technical Indicators and Momentum Analysis

PEPE charts showcase a fluctuating market structure characterized by strong bullish and bearish momentum. Initially, prices were on an upward trend, forming higher highs and lows, indicating robust buying interest.

However, a sharp decline suggests a shift in momentum, possibly due to profit-taking or resistance rejections. Following this decline, prices stabilized, with minor upward movements observed.

Resistance levels near 0.00000096 – 0.00000100 USDT have shown multiple rejections, indicating that breaking above this could signal continued bullish trends. Support is firm around 0.00000088 – 0.00000090 USDT, and any breakdown below this level may indicate deeper corrections.

The Awesome Oscillator (AO) reflects changing market momentum, initially turning red amid increased selling pressure but later returning to green, which might indicate a potential price direction reversal if the trend continues.