Recently, the cryptocurrency market has shown a retracement trend. The price of PEPE coin is currently hovering around 0.0107, having fallen below several important moving average supports, with a clear bearish arrangement in the technical aspect. In the past 24 hours, PEPE has touched a low of 0.0105, and if this key support level is breached, the next potential support level may be around 0.0099.

From a technical indicator perspective, the Relative Strength Index ( RSI ) has fallen to 19.77, entering an extremely oversold area, which usually indicates a possibility of a short-term rebound. However, it is worth noting that the trading volume has not shown a significant increase, which may imply that market participants are still adopting a wait-and-see attitude.

Overall, PEPE may fluctuate around the current price level in the short term while searching for a bottom. Investors need to closely monitor policy changes and fluctuations in investor sentiment that may affect the market. Although there is a possibility of a short-term rebound, PEPE still faces downward pressure from an overall trend perspective.

In this market environment, investors should remain vigilant, closely monitor market trends, and make informed investment decisions based on their own risk tolerance. At the same time, it is important to be aware of the high volatility characteristics of the encryption currency market, making risk management crucial.