Bitcoin

Outpacing Other MEME Coins In Market Surge

1 Mins read

PEPE price is up over 10% and outpacing other meme coins. The price could continue to rise toward the $0.0000125 level in the near term.

  • PEPE started a fresh increase above the $0.0000105 level.
  • The price is now trading above $0.0000110 and the 100-hourly Simple Moving Average.
  • There is a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair (data source from Kraken).
  • The pair could rally further if there is a close above the $0.0000115 resistance.

PEPE Price Surges Over 10%

In the past few sessions, PEPE saw a steady increase above the $0.000010 resistance. It outpaced Bitcoin ,Ethereum, and MEME coins. There was a 10% increase, and the bulls were able to push the price above the $0.0000110 level.

It traded as high as $0.00001148 and is currently consolidating gains. The price is holding gains above the 23.6% Fib retracement level of the upward move from the $0.00000959 swing low to the $0.00001148 high. It is also well above the $0.000011 and the 100-hourly Simple Moving Average.

Immediate resistance is near the $0.0000115 level. There is also a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair.

PEPE Price
Source: PEPEUSD on TradingView.com

The first key resistance is near $0.00001155. A close above the $0.00001155 resistance zone could send the price higher. The next key resistance is near $0.000012. If the bulls remain in action above the $0.000012 resistance level, there could be a rally toward the $0.0000125 resistance. Any more gains might send the price toward the $0.0000132 resistance.

Are Dips Limited?

If PEPE fails to clear the $0.0000115 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.0000110 level. The next major support is at $0.0000105 or the 50% Fib retracement level of the upward move from the $0.00000959 swing low to the $0.00001148 high.

If there is a downside break and a close below the $0.0000105 level, the price might accelerate lower. In the stated case, the price could even drop below the $0.000010 support zone.

Technical Indicators

Hourly MACD – The MACD for PEPE/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for PEPE/USD is now above the 60 level.

Major Support Levels – $0.0000110 and $0.0000105.

Major Resistance Levels – $0.0000115 and $0.0000120.


Source link

Related posts
Bitcoin

Western Banks Face Major Asset Seizure in Russia Amid Gazprom Subsidiary Dispute

1 Mins read
In a significant move against western banks, a St Petersburg court has seized over $763 million of assets from Unicredit, Deutsche Bank,…
Bitcoin

Discover How RCO Finance (RCOF) Is Revolutionizing DeFi With Its Cutting-Edge AI Trading Tool

2 Mins read
The cryptocurrency trading landscape has long been complex, with enthusiasts facing various challenges. From converting crypto to fiat to limited accessibility, crypto…
Bitcoin

XRP Whales Go On Massive Buying Spree, Why This New Project Could Be Next

2 Mins read
XRP whales, who engaged in a massive buying spree last week, could take advantage of a new era of financial opportunities with…

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *