PEPE Multiple Technical Levels ConvergePEPE / TetherUSBINANCE:PEPEUSDTCoinJarPEPE price action is currently trading around a technical confluence zone, making this an important region to monitor in the immediate short term. This area includes key daily support, the 200 simple moving average, a previous resistance level that is now be acting as support around the 0.618 Fibonacci retracement level. If price holds this region and develops a sustained recovery, it could support the broader bullish market structure. From an Elliott Wave perspective, this may also suggest that a potential Wave 2 correction has been completed within a larger five-wave structure. However, any continuation would depend on sustained bullish momentum and broader market participation. On the other hand, a decisive break below this key support region could weaken the current bullish structure. Such a move may invalidate the existing impulsive wave interpretation and increase the possibility of a deeper corrective move towards lower support areas, potentially including the base of the previous advance. Overall, this technical region remains critical from a price action and market structure perspective. The market's reaction around this zone may provide insight into PEPE's near-term direction, although no particular outcome is guaranteed. ---------------------------------------------------------------------------------------------- Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more: coinjar.com/uk/risk-summary The article is an opinion expressed by the author at a point in time and does not represent the views of CoinJar UK Limited or CoinJar Australia Pty Ltd. Take care to consider the date of this article and be aware that this opinion is based on circumstances at the time of publishing. No responsibility or liability is accepted for any errors of fact or omission expressed therein. Past performance is not a reliable indicator of future results. This above article is not to be read as investment, legal or tax advice and it takes no account of particular personal or market circumstances; all readers should seek independent investment advice before investing in cryptocurrencies. We recommend you obtain financial advice before making a decision to use your credit card to purchase cryptoassets or to invest in cryptoassets.In the UK, it's legal to buy, hold, and trade crypto, however cryptocurrency is not regulated in the UK. It's vital to understand that once your money is in the crypto ecosystem, there are no rules to protect it, unlike with regular investments. You should not expect to be protected if something goes wrong. So, if you make any crypto-related investments, you're unlikely to have recourse to the Financial Services Compensation Scheme (FSCS) or the Financial Ombudsman Service (FOS) if something goes wrong. ----------------------------------------------------------------------------------------------