Closing Below Support

Currently, the price of PEPE has closed below the previously established support box, indicating that this support zone has been breached. As a result, the formation of a lower high compared to the prior high and a lower low compared to the prior low is observed, signaling a downward trend. Accordingly, a descending channel has been established, and it is anticipated that the price will oscillate within the bounds of this channel's ceiling and floor, progressively leading to an increased decline.