Is PEPE’s Price Going Down? Analyzing Risk Levels and Predictions

The PEPE coin price has recently struggled to hold above its support level, facing pressure from a breakdown of its ascending trendline. Trading at $0.00000992, it sits precariously near a crucial support at $0.00000997 (its 200-day SMA). The token is currently consolidating in a vulnerable range. To regain bullish momentum, PEPE needs to reclaim the 50-day SMA ($0.00001124). If it fails to do so, risk of a deeper correction towards $0.00000587 support remains on the table.