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Pepe Coin Price Analysis Hints Last Pullback Before A 52% Upsurge – Crypto News

Published

1 year ago

March 3, 2024

Dripp

Pepe Coin Price Analysis: With the outrageous bull run gaining momentum, the meme coin rally is signaling the start of a new Altcoins season. Spearheading this supersonic rally on the upside, the PEPE coin is outshining the top contenders not just in the meme sector but the entire crypto market. As the demand for the PEPE grows, will this frog-themed Altcoin take another leap for an 86% hike?

Also Read: Pepe Coin Climbs 240% In A Week: Signal For Upcoming Bull Market in Meme Coins?

Rounding Bottom Pattern Governs The Bullish Trend

OKX:PEPEUSDT Chart Image by sahilmahadik07

Amidst the said bull run, the daily chart of the PEPE price shows a remarkable set of bullish candles undermining the previous season of pullback. Burying the doubts of recovery, the meme coin leaps for a 522% jump from February low at $0.000000867 and refuels the tank for a new breakout run.

Peaking this week’s jump at $0.00000545, the meme coin creates a new all-time high, reflecting the rise in underlying demand. As Pepe trades at $0.00000541, the intraday jump of 23% comes with a trading volume of $1.58 Billion, and the hype for PEPE continues to expand in the market.

Further, the daily chart showcases a rounding bottom reversal with this bull run and is ready for a breakout run. Thus, the bull run continues for the PEPE in the daily chart with a new bullish engulfing candle.

Also Read: Whale Dumps 2T Pepe Coin Amid Shiba Inu Hype, PEPE Price Dip Ahead?

PEPE Price See a Minor Pullback Before a Leap to $0.000038

Following a bullish surge beyond its previous all-time high and a clear breakout from a rounding bottom pattern, the price of PEPE has surged dramatically. Analysis of these patterns suggests a strong likelihood of a 52% increase in the upcoming weeks, potentially elevating the price to $0.000008322.

Nonetheless, a retest of the breakout level might occur if trading volumes diminish or market conditions deteriorate. This scenario could offer sideline traders a secondary entry point at $0.000004486.

Exponential Moving Average: A sudden upswing in the daily EMAs(20,50, and 100) reflects the buyers are aggressive in nature.
Relative Strength Indicator: the daily RSI line into the overbought territory indicates the PEPE price is poised for a minor pullback.