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![\"PEPE](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/20185643\/xtmBuAHL-e1692538034503.png\")
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<\/a> The Frog-themed memecoin Pepe started witnessing aggressive selling pressure from mid-August, leading to a sharp reversal from the $0.00000147 mark. This downfall bolstered by a broader market sell-off triggered a 29% drop and pushed the prices back to $0.00000105 local support. The PEPE price<\/a> sustainability at this support accentuates the investors accumulating at a discounted price and the potential for a bullish rebound.\u00a0<\/span><\/p>\n <\/p>\n Also Read: Pepe Coin Leads Crypto Recovery; PEPE Price Jumps By 5%<\/a><\/p>\n After the early week sell-off in the crypto market, the Pepe Coin buyers manage to sustain above the combined support of $0.00000105 and 78.6% Fibonacci retracement level. In the daily time frame chart the coin price shows a formation of a morning star at the aforementioned support indicating an upcoming reversal.<\/span><\/p>\n This second reversal from the PEPE price within a month indicates the potential development of a double bottom pattern<\/a>. This chart pattern is often spotted at the bottom of a downtrend, leading to a sharp bullish recovery.<\/span><\/p>\n<\/blockquote>\n By the press time, the Pepe coin trades at $0.000113 with an intraday gain of 0.88%. Under the influence of this chart pattern, the anticipated upswing should lead the popular memecoin 28.8% higher to challenge the $0.00000147 neckline.<\/span><\/p>\n <\/p>\n In theory, a correction fall to 78.6% FIB level reflects some weakness in bullish momentum. Therefore, interested market participants must remain cautious and can wait for a break above the 0.00000147 neckline for a safer entry. This breakout will offer buyers a better confirmation for a bullish recovery and could push the prices back to a $0.00000188 swing high.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n 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 <\/p>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n
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\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\nPepecoin Daily Chart: Key Points<\/b><\/h2>\n
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![\"PEPE](\"https:\/\/s3.tradingview.com\/snapshots\/x\/xtmBuAHL.png\")
Source- Tradingviewr<\/span><\/p>\n\n
Is It The Right Time to Buy Pepecoin?<\/b><\/h2>\n
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