The article discusses the recent price action of the cryptocurrency PEPE, which experienced a drop after a breakout and is now retesting a crucial support level at $0.00000766. The analysis examines whether this support level can hold and potentially lead to a rebound, exploring potential scenarios for the cryptocurrency's next move. The article also mentions the indicators on the 4-hour chart, such as the Relative Strength Index (RSI), which suggest increasing bearish momentum and a potential decline towards the support level. However, despite this short-term decline, the recent bullish market sentiment suggests that the drop may be temporary and could lead to a rebound. The article also mentions possible target resistance levels if the support level holds, as well as lower support levels if it fails. The article concludes by providing information on the recent price and market capitalization of PEPE.
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