Published 2 hours ago
Pepepcoin Price Analysis: The frog-themed memecoin Pepe showcased a V-shaped amid the recent recovery sentiment in the crypto market. From the last week’s low of $0.00000092, the coin price is 82% to reach the current trading price of $0.00000116. However, the daily chart started projecting signs of profit booking that indicate that Pepecoin price could witness a minor pullback before resuming the current recovery trend.
Also Read: Pepe Coin Skyrockets 40%, Will SHIB, DOGE, and FLOKI Follow?
Pepecoin Price Daily Chart
- The pepecoin is poised for a 14% pullback before finding support at $0.00000135
- The $0.00000152 stands as a strong accumulation zone
- The 24-hour trading volume in the Pepecoin coin is $126.5 Million, indicating a 43.5 % loss.
Source-Tradingview
Over the week the PEPE price showcased high momentum buying with the six consecutive green candles and increasing volume activity. This price behavior reflects sustained recovery and an opportunity for trend reversal.
However, after such massive growth, the asset price is likely to experience a minor pullback and provide a short break to market buyers. As the coin price rose higher, the daily chart started projecting candles with higher wicks and lower bodies, indicating the bullish momentum is gradually diminishing.
Therefore, the PEPE price could witness a minor pullback and retest the immediate support of $0.00000152 to replenish bullish momentum. This potential pullback could offer dip opportunities to traders before the recovery rally resumes.
Is PEPE Price Ready for Further Rally?
With the increasing overhead supply, the PEPE price may enter a consolidation phase above $0.00000152. This pullback will also validate whether the buyers can sustain higher levels or whether the recent rally is a bull trap. If the buyers manage to hold the $0.00000152 level in the coming weeks, the LUNC price will prolong the recovery rally to the next significant resistance of $0.00000192.
- Relative Strength Index: The daily RSI slope value above 60% accentuates high momentum buying among traders
- Exponential Moving Average: The 50-day EMA slope wavering near the $0.00000152 mark increases the support strength of this level.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
