A 25% Rally in Sight as Bulls Retake Key Resistance – Crypto News – Crypto News
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A 25% Rally in Sight as Bulls Retake Key Resistance – Crypto News

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3 years ago

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Published 6 minutes ago

Pepepcoin Price Analysis: In the midst of a challenging market environment, the Frog-themed meme coin PEPE experienced a significant correction phase, driven by a downsloping trendline. Over the course of one week, the Pepecoin price plummeted by 24.5%, dropping from $0.0000019 to $0.00000143 support. However, recent positive movements in leading cryptocurrencies like Bitcoin and Ethereum have provided a much-needed boost for buyers. With a successful breach of the overhead trendline, this memecoin is likely to resume a bullish rally.

Also Read: Pepecoin Price Analysis: Will $PEPE Price Surpass $0.000002 in July?

Pepecoin Price Daily Chart

  • The Pepecoin correction phase above 50% Fibonacci retracement support indicates the overall trend is bullish.
  • Trendline breakout offers buyers an opportunity with a bullish upswing of 25%
  • The 24-hour trading volume in the Pepecoin coin is $114.5 Million, indicating a 56% gain.

Pepecoin Price AnalysisSource-Tradingview

The recent uptick in Bitcoin and Ethereum has had a positive impact on PEPE’s price movement. The coin has successfully broken out from the downsloping resistance trendline, marking a potential end to the correction phase.

As of press time, the PEPE price trades at $0.00000152 with an intraday gain of 0.66%.

However, the 4-hour time frame chart shows that the PEPE price is undergoing a retest of the breached trendline to validate its sustainability. This retest is a crucial step in confirming the strength of the bullish momentum. If the uptrend persists, PEPE’s price could rise by 25.14%, presenting an opportunity to rechallenge the $0.0000019 level.

Will Pepecoin Coin Revist the 0.00000139 Mark?

If the retest phase plunges below the trendline and breaks the 200 EMA slope, the bullish thesis will get invalidated. This breakdown could prolong the prior correction and push the price to $0.00000139, aligned with the 50%. Fibonacci retracement levels,

  • Exponential Moving Average: The 50s and 200s EMA slope creating a range structure and a breakout from either of them will offer an additional confirmation to the respective ends.
  • RSI: The 4-hour rsi slope yet to cross 50% indicates a lack of bullish momentum.

From the past 5 years I am working in Journalism. I follow the Blockchain & Cryptocurrency from last 3 years. I have written on a variety of different topics including fashion, beauty, entertainment, and finance. Reach out to me at brian(at)coingape.com

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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