Oversold Readings Emerge As PEPE Trades At $0.059198 Amid 1.3% Daily Decline

PEPE trades at $0.059198 after a 1.3% decline, hovering just above key support at $0.059124.

The stochastic RSI shows oversold conditions at 22.9%, with momentum still pointing lower.

The resistance is at $0.059492 and traders are monitoring the break even position of $0.000081 as the possible target in situations where support is broken.

In the most recent one, Pepe (PEPE) was slightly down, with a 1.3% decrease in 24 hours. The token is at the moment traded at $0.059198 and it has been on a pull back following recent recovery efforts

Market participants observed that the weekly stochastic RSI has been followed closely, with history indicating that Pepe typically touches the lower end of the RSI band during downward momentum. This technical setup has drawn attention to the $0.000081 region, though analysts highlight that the indicator is lagging and upward movement could still develop.

Key Support and Resistance Levels

The support and resistance at the current market structure stand at $0.059124 and $0.059492 respectively. These levels remain tight, limiting the price range. Notably, PEPE is trading just above its support, suggesting that traders are closely monitoring whether the level will hold. The narrow band indicates potential for volatility as liquidity builds around these zones.

Technical Indicators Show Oversold Signals but Mixed Momentum

Technical readings show the stochastic RSI at 22.9%, with the lower line around 9.47. This highlights oversold conditions on the shorter timeframe. In the meantime, the relative strength index (RSI) of the hourly chart is 40.57, which is just below the 50-level of neutrality, whereas its moving average is 49.77

Source: TradingView

This equilibrium is suggesting ambivalence, and the negative trend remains alive. In addition, the MACD indicator reflects compressed movement, with both signal and MACD lines hovering near zero, showing lack of directional strength.

Key Support and Resistance Levels Guide Short-Term Outlook

Given the stochastic RSI’s historical behavior, market watchers are alert to possible downward continuation before any significant rebound. However, the proximity to the $0.059124 support level will likely play a decisive role in short-term action

If buying pressure emerges, the $0.059492 resistance remains the first upside target. At the same time, a breakdown below support could drive prices toward the highlighted $0.000081 zone.