Top Analysts Predict 25% Spike for PEPE Meme Coin Despite Mixed Signals: Key Resistance and Support Levels Outlined
Release: 2024/07/12 17:15 Reading: 709
Top Analysts Predict 25% Spike for PEPE Meme Coin Despite Mixed Signals
RLinda, a crypto analyst on TradingView, recently discussed the potential price trajectory of the PEPE meme coin. They noted that Pepe Coin is currently experiencing a "deep correction phase," with its price hovering at the support zone, indicating strong buyer presence at that level.
The next focus is on whether the price can break above the upper boundary. Support has been established at $0.00000761, representing a strong buying zone. This level also influences volume growth and potential recovery.
Despite the support, RLinda acknowledges the possibility of a price drop below this key level. However, current market conditions favor a price recovery, suggesting potential bullish momentum.
The analyst emphasizes that a break above the $0.00000951-$0.00000991 price zone would validate the recovery zone. A price close above this range would likely form a bottom, indicating the beginning of an upward rally.
RLinda identifies $0.00000952, $0.00000991, and $0.00001084 as resistance levels to watch. Support levels include $0.00000886 and $0.00000761. The price action has already broken past the $0.00001084 and $0.00000991 price resistances.
RLinda acknowledges the complexity of the price action due to the ongoing consolidation of Bitcoin's price. BTC's movements can impact altcoins, and an upward trend in BTC could trigger bullish moves in other altcoins.
AltFINS Agrees to PEPE Price Rally
AltFINS, a crypto analytics firm, also agrees that the PEPE Coin trends are mixed. Their analysis indicates a Long-Term Uptrend for the coin, with its price trading above its 200-day moving average.
According to AltFINS, the coin's price rebounded from the $0.0000078 support and broke above the $0.0000091 resistance, signaling a potential resumption of the Uptrend with a +25% upside potential to $0.0000113.
Despite the optimistic outlook, AltFINS acknowledges that the short-term and medium-term trends remain bearish, while the long-term trend is bullish.
The Moving Average Convergence Divergence Indicator (MACD) shows that the MACD Line is still below the MACD Signal Line, but momentum may have bottomed out as MACD Histogram bars are rising, indicating a potential upswing.
Price is currently neither overbought nor oversold, based on RSI-14 levels.
According to AltFINS, the next resistance levels are $0.0000091 and $0.0000113. However, if the price falls, it could drop to $0.0000078 and $0.000006.
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