Pepe Coin Price Prediction As Post-Correction Rally Sees 20% Surge; But There’s a Catch
Release: 2023/12/23 22:14 Reading: 311
Pepe Coin Price Prediction: The crypto market witnessed a notable upswing this week, reviving a bullish sentiment among the market participants. Thus, the frog-themed memecoin Pepe rebounded from $0.00000122, preparing to challenge the last swing high of $0.00000175. Thus, the potential surge will also complete the bullish reversal pattern called inverted head and shoulder, indicating an early sign of trend reversal.
Also Read: Here’s Why Bitcoin Jumps 160% YTD Despite Multiple Setbacks
Bullish Reversal Pattern Sets PEPE Price Beyond $0.00002
- A strong rebound from the $0.0000021 support reflects the recent correction recuperated the exhausted bullish momentum
- The accumulation of technical barriers at $0.0000017 could create a strong supply zone
- The 24-hour trading volume in the Pepe coin is $227 Million, indicating a 13% loss.
Over the last seven months, the Pepe coin price movement has been largely sideways, encountering difficulties in maintaining a level above $0.0000019. Analysis of the daily time frame chart reveals that this period of consolidation has taken the shape of an inverted head and shoulders pattern, a development that often signals a potential bullish reversal.
This pattern suggests that there has been increasing accumulation by buyers, possibly looking to capitalize on what they perceive as the coin’s bottomed-out value. Amidst the uncertainties that clouded the crypto market in December, the Pepe coin experienced a slight pullback, dropping to $0.00000221. Notably, this retracement is seen as a component of the overarching bullish reversal pattern, forming what is known as the right shoulder of the inverted head and shoulders formation.
On December 22nd, a significant inflow into Pepe coin precipitated a decisive breakout from the resistance trend that had previously governed the last correction phase. Driven by this pattern, the coin price is anticipated to climb an additional 20%, targeting the neckline resistance of the pattern.
A successful bullish breakout beyond this neckline, which stands at around $0.0000017, would provide stronger confirmation of the commencement of a new bull run.
Conversely, if buyers are unable to push the price above this critical neckline, Pepe coin is likely to continue its sideways trajectory, awaiting further market developments or catalysts to determine its next significant move.
Is PEPE Price Ready to Surpass $0.000002?
As 2024 nears, the cryptocurrency market is optimistic about the potential approval of a Bitcoin spot ETF, positively influencing major coins, including Pepecoin (PEPE). This optimism enhances the likelihood of PEPE breaching its overhead neckline resistance, potentially triggering a significant buying wave. A successful breakout could lead to a substantial 70% price increase for PEPE, aiming for a target of $0.0000029.
- Bollinger band: The upper boundary of the Bollinger band going flat around the $0.0000017 mark would provide an additional barrier against buyers.
- Moving Average Convergence Divergence: a potential Bullish crossover between the MACD and a signal line above the zero line would give additional confirmation for uptrend continuation.
The post Pepe Coin Price Prediction As Post-Correction Rally Sees 20% Surge; But There’s a Catch appeared first on CoinGape.
Recent news
More>- Trump’s Revolution Solana Memecoin Will Surge 13,000% Before First Exchange Listing, As Shiba Inu and DOGE Lag 11-23
- Enormous XRP Breakthrough: $2 in Sight, Dogecoin (DOGE) at Pivotal Price Level, Ethereum (ETH) Forms Very Dangerous Pattern 11-23
- Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025 11-23
- Pepeto’s $600K Presale Highlights Vision for Supporting Memecoins Ahead of 2025 (22 Nov) 11-23
- New Solana Memecoin Shiba Eats Pepe to Skyrocket 16,000% Before Exchange Listing, as Dogecoin and Bonk Fall 11-23
- Top Trader Calls Dogecoin Budget XRP — Here's Why 11-23
- PNUT, WIF, PEPE Defy the Odds: How High Can These Memecoins Climb? 11-23
- $1k in Dogecoin in 2021 Worth $200,000 Today, Analyst Points to a New Opportunity to Repeat It 11-23
- $440 in Dogecoin (DOGE) Could Turn Into $44000 by November 2025, But One DOGE Alternative Will Do It in 8 Weeks: Surprisingly, It’s Not Shib... 11-23
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com