PEPE Falls 2.6% After Failing to Breach Resistance Levels

Core Insights - PEPE cryptocurrency has declined by 2.6% in the last 24 hours, trading near $0.0000915, underperforming the broader crypto market which is down 1.4% [1][2] - The token's trading range was between $0.0000913 and $0.0000951, with a failed rally near resistance leading to a gradual decline [1][2] Market Performance - The session opened at $0.0000939, peaked at $0.000095, and faced consistent selling pressure, resulting in a steady decline [2] - Despite the drop, PEPE outperformed the memecoin sector, which fell by 3% in the same period as measured by the CoinDesk Memecoin Index [2] Trading Activity - Open interest in PEPE futures reached $560 million, while total trading volume increased to $1.2 billion [3] - Market focus is on whether PEPE can maintain support above $0.000091 or risk slipping lower, with a break above $0.000095 potentially shifting sentiment [3] Technical Analysis - PEPE's 24-hour trading range showed a spread of $0.0000034, approximately 4% between session highs and lows, with resistance at $0.000095 [4] - Support near $0.000092 held initially but weakened towards the end of the session, indicating potential bullish accumulation earlier [4] Volume and Sentiment - Declining volume towards the close indicates hesitation in the market, with temporary surges in trading activity failing to sustain momentum [5] - Without a strong return of buyers, recent consolidation attempts may lead to a broader retracement [5]