Release: 2024/05/20 22:31 Reading: 810
Here is What's Next for Pepe (PEPE) Price Rally: Will it Reach $0.000015 This Week?
Source: Coinpedia Fintech News
The Pepe price is surging once more! Memecoins, alongside other popular altcoins, are gaining momentum as Bitcoin's price maintains an upward trajectory. After breaking out of a bullish pattern, the PEPE price is experiencing a consolidated upswing, forming higher highs and lows in succession. This suggests that the price is poised for extended bullish action, provided that bulls gain more prominence and an opportunity to boost buying pressure with a significant influx of volume.
The renowned memecoin seems to have embarked on a multifaceted strategy to reclaim lost ground and ultimately establish a new all-time high (ATH). The price is forming consecutive higher highs as it anticipates another upswing of over 40%. The token is on the verge of initiating a new bullish wave, which could elevate levels above the 1 FIB level, $0.00001054. Currently, a notable pullback has dragged levels below $0.00001, but this appears to be a temporary consolidation.
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A few days ago, the price reached a new ATH of $0.00001156, which was followed by a significant pullback. However, bulls have intervened at the opportune moment, suggesting that a new ATH may be imminent. But when and at what levels?
In tandem with the price, the Relative Strength Index (RSI) is also forming consistent higher highs and lows, indicating that bulls maintain significant dominance. Meanwhile, volume continues to decline, suggesting a weakening of bearish momentum. Therefore, by maintaining an ascending trend, the PEPE price is expected to establish a new ATH before month's end, potentially around the 1.2 FIB level at $0.00001306.
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