"PEPE Meme Coin: Traders Bet on Oversold Condition for Potential Rebound"

Traders are increasingly betting on the support of PEPE, a meme coin that has been on a rollercoaster ride in recent weeks. Despite its recent decline, some analysts believe that the coin is oversold and could be poised for a rebound.

PEPE's price has been volatile, with a significant drop in the past week that reset it to a three-month low. However, some traders see this as an opportunity to buy the coin at a discounted price. The coin's daily chart shows an oversold condition, which could signal a potential buy opportunity.

Analysts are watching PEPE's key levels closely. If the bulls take advantage of the oversold condition, the coin could climb above the immediate $0.0000114 level. Above that, the $0.0000147 resistance and $0.000018 levels are in play. Retaking the $0.000022 resistance could signal a trend shift.

On the downside, the $0.00001 level is holding as support. If the price dips below it, the $0.000008 level would be the next support to consider for drops. Below that, the $0.0000065 level is in play.

Despite the recent sell-off, some traders remain optimistic about PEPE's long-term prospects. The coin's overall market structure is still within a buying range from a long-term perspective. However, the short-term outlook is uncertain, and traders should exercise caution.

As with any investment, it's essential to do thorough research before buying any cryptocurrency or investing in any services. The crypto market is highly volatile, and prices can change rapidly. Traders should stay informed and make decisions based on their risk tolerance and investment goals.