The cryptocurrency market is not ready to grow yet, according to the CoinMarketCap ranking.
Top coins by CoinMarketCap
PEPE/USD
The decline of PEPE has turned out to be quite profound, going down by almost 15%.
Image by TradingView
On the hourly chart, the rate of PEPE is coming back to the recently formed support at $0.000001566. If the daily closure happens near it, the correction can continue tomorrow to the $0.00000015 zone.
Image by TradingView
On the longer time frame, traders should pay attention to the level at $0.000001522. At the moment, buyers are losing it as there was no reaction after the the price tested it a few days ago. In this regard, the fall may last until the zone of $0.0000012-$0.0000014. Such a scenario is relevant until the end of the month.
Image by TradingView
From the midterm point of view, it is too early to make any long projections as PEPE was listed on exchanges not long ago. Meanwhile, if the drop continues, there might be a bounce back at the mirror level at $0.000001.
This level is crucial from the psychological perspective.
PEPE is trading at $0.0000016047 at press time.
Source: https://u.today/pepe-price-analysis-for-may-11