\nA bullish reversal from $0.00000078 will bolstersthe PEPE price for a bull cycle within the channel pattern .\t\t\t\t<\/p>\n
<!–<\/p>\n
![\"PEPE](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/09\/04165122\/E8ikpJfI-e1693826499984.png\")
<\/div>\n–><\/p>\n
Published 7 seconds ago <\/p>\n
On September 1st, the Pepe coin price<\/a> gave a decisive breakdown from the August 25th low of $0.00000078 as a signal of downtrend continuation. However, the sellers could not provide a suitable follow-up reflecting their lack of conviction. Thus, the popular memecoin surged back above the aforementioned support, indicating the prior fall was a bear trap that could increase market buying in the market.<\/span><\/p>\n <\/p>\n Also Read: PEPE Price Prediction: Will Pepe Coin Reclaim $0.000001 in September?<\/a><\/p>\n After the September 1st fake breakdown from the $0.00000078 support, the daily chart showed an immediate bullish reversal with the formation of the Morning Star candle. This minor recovery could be associated with the most prominent cryptocurrency Bitcoin<\/a> witnessing demand pressure at $25000.<\/span><\/p>\n Thus, the PEPE price surged 5% in the last three days and is currently trading at $0.00000082. This reversal could trigger a short-term relief rally to $0.00000011 registering a potential gain of 34%.<\/span><\/p>\n<\/blockquote>\n However, the coin price faces dual resistance from the September 1st high of $0.00000083 and a downsloping resistance trendline. An upside breakout from these barriers will give a better confirmation for a bullish upswing.<\/span><\/p>\n <\/p>\n While the bullish upswing for Pepe coin seems valid and can make a recovery back to the $0.0000011 mark, the daily chart shows the presence of the channel pattern\u2019s resistance. This chart setup has carried a recovery rally for the past two months offering constant resistance during bullish. Therefore, the coin holders must keep a close eye on this barrier for the possibility of a potential reversal.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/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>\nTrendline Breakout Could Push the PEPE Price to $0.0000011<\/b><\/h2>\n
\n
![\"PEPE](\"https:\/\/s3.tradingview.com\/snapshots\/e\/E8ikpJfI.png\")
Source- Trading<\/span><\/p>\n\n
PEPE Coin Needs This Before a Sustained Rally<\/b><\/h2>\n
\n
\n
\n <\/a>
\n
\n![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
\n<\/a>
\n <\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&d=mm&r=g\")