PEPE’s price has been on a downward trend over the past day, but its trading volume saw a 30.65% boost, suggesting that investors are beginning to have faith in the coin. At press time, it is trading at $0.0000007259.
Crypto Analyst “@Decilizer” shared with his followers today that $PEPE is “gaining strength,” and if Bitcoin maintains its bullish trend, the token may trim a zero from its price. He also mentioned that $SHIB and $DOGE are stepping up in the memecoin sector, leading the charge alongside PEPE.
What you'll learn 👉
PEPE’s Key Support and Resistance Levels
The chart posted by the analyst indicates two key support levels: $0.0000007 and $0.0000004. These levels have held steady during price dips, suggesting strong buyer interest. This $0.0000007 level has been tested multiple times, indicating it as a consolidation zone after minor pullbacks.
On the resistance side, PEPE is facing a challenge at 0.00000110 USDT. This level has previously rejected upward price movement, making it a significant hurdle. If PEPE can break above this resistance, it might push towards further bullish momentum, especially with broader market support.
Doge2014 raises 500K in days celebrating Dogecoin. Make potentially big profits and get in on exclusive airdrop!
Show more +PEPE’s Chart Analysis: Technical Indicators Signal Momentum
The chart also shows the 50-period EMA (Exponential Moving Average) acting as dynamic support for PEPE’s price. This token remains above the EMA, which is generally considered a bullish signal. This suggests that the coin may be gearing up for another move higher.
The RSI hovers around the 40-60 range, indicating neutral momentum. This shows that there is still room for price movement in either direction. Moreover, volume spikes also appeared during price surges, hinting at potential volatility.
Read Also: Chainlink Consolidates Below Key Resistance: LINK Price Rally Incoming?
What’s Next for PEPE?
Decilizer mentioned that PEPEs’ price saw an 11X surge in gains which is a substantial increase during favorable market conditions. He also said that if Bitcoin stays bullish, PEPE may trim a zero from its price.
However, this will likely require a strong catalyst, with memecoin interest and volume driving upward momentum.
Decilizer also mentioned that $SHIB and $DOGE are showing strength in the market. These two are stepping up, potentially encouraging a broader rally in the memecoin sector. He added that their performance could create a ripple effect, positively influencing PEPE’s trajectory.
Finally, while PEPE holds above its key support levels, traders and investors are waiting patiently for a breakout above 0.00000110 USDT, which could signal upward movement.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Get all our future calls by joining our FREE Telegram group.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
