Pepe Coin (PEPE) has faced severe downward pressure, dropping 39,8% in the last month and further 7,6% over just the last week; however, the token is dragging its feet in the mud over the coveted support level and is sparking speculation about resurgence.

Key Resistance Levels to Watch

China is now skirting around the lower boundary of the parallel channel. As per Ali Martinez”s analysis, should this support hold, a rebound toward $0,000016 will be the next objective. The first critical resistance for the token is at $0,11; clearing this would allow for higher movement targeting $0,21. Meanwhile, provided bullish momentum will continue, $0,41 should set up as the longer-term target for PEPE.

Market Sentiment and Outlook

Accumulation, quite possibly, is almost done, preparing the grounds for a tendency toward an upward, but the overall fate of PEPE is to be sealed by external market changes. As a trigger for PEPE”s ability to stage a lasting recovery or consolidate further, the performance of Bitcoin and Ethereum is crucial in determining the outcome. Should momentum come soaring in, a breakout could potentially prepare the ground for a huge rally.