Pepe Coin Price Prediction: Can $PEPE Recovery Hit $0.000002 In December?
Release: 2023/12/10 02:24 Reading: 990
Pepe Coin Price Prediction: Fueled by the recent meme coin frenzy, PEPE price continues its ascent, forming a bullish pattern with a remarkable 45% increase over the past 2 weeks with a trendline breakout. This unwavering bullish momentum, coupled with Bitcoin price close approach to the $45K level, suggests a potential surge for the broader crypto market
Also Read: RWA Tokens That Could 50-100x in 2024
Is PEPE Price Heading to $0.000021?
- The PEPE price rally with an increase in volume shows sustainable growth
- The rising price can face a high supply zone at $0.000019
- The intraday trading volume of PEPE is at $250 Million with a 67% jump.
With the buyers overcoming the recent pullback phase, the PEPE coin price skyrocketed with a trendline breakout rally. The trend accounts for a price jump of 45% over the past two weeks and reclaims the psychological mark of $0.0000015.
As per the trend-based Fibonacci retracement, the ongoing bull run challenges the hundred percent Fibonacci mark which may lead to a bullish breakout. In case of an outcome supporting the buyers and holders of pepe coin, the least momentum will prolong the prevailing up trend.
In such a condition, the breakout rally is expected to reach the overhead resistance of $0.0000019 accounting for a 16.6% gain.
Supporting the bullish possibility, the short-term memecoin price trend shows a rounding reversal with a spike in the intraday trading volume. Currently, the PEPE price trades at $0.00000162 with a minimal intraday gain to form a Doji candle reflecting an indecisive daily candle.
Is PEPE Price at Risk of New Correction?
The anticipated rally in PEPE price could face intense supply pressure at $0.000019. This monthly resistance could pressurize the coin price for another correction. However, in such a correction, the coin holders can use the 38.2% or 50% to find a suitable pullback opportunity as the price has historically strong demand pressure.
- Relative Strength Index: the daily RSI slope above 60% reflects market sentiment is Bullish
- Moving Average Convergence Divergence: a Bullish crossover state between MACD and signal slope, reflects the buyers are traveling a recovery trend.
The post Pepe Coin Price Prediction: Can $PEPE Recovery Hit $0.000002 In December? appeared first on CoinGape.
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