RLinda, who posts crypto analysis on TradingView, discussed the next possible price direction for the PEPE meme coin. They revealed that Pepe Coin is currently going through a “deep correction phase” with its price currently at the support zone, which shows the buyers are holding strong at that level.
Now, the next focus is on the upper boundary to see if the price can break above it. There has been support at $0.00000761, and it is around the area where there are strong buyers. This level also determines volume growth and how recovery can take place.
Despite the strong support, RLinda thinks the price can still fall below the key level. However, the market is more titled towards a price recovery right now, suggesting there could be some bullish moves.
The analyst emphasized that the recovery zone will be validated if the coin can break above the $0.00000951-$0.00000991 price zone. A price close above that zone should form a bottom, suggesting we could have an upward rally.
RLinda points out $0.00000952, $0.00000991, and $0.00001084 as the resistances to look out for, while supports are $0.00000886 and $0.00000761.
Current price action has broken past the $0.00001084 and $0.00000991 price resistances already. We now expect a spike to the next key levels.
RLinda admits that the price action is quite complicated because the price of Bitcoin is currently consolidating. The price of BTC may affect other altcoins, and if it goes up, we can expect a bullish move for other altcoins too.
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AltFINS Agrees to PEPE Price Rally
AltFins, a crypto analytics firm in their PEPE analysis also agree that the trends are mixed. Based on their analysis, Pepe Coin’s price is in a Long-Term Uptrend as it trades above its 200-day moving average.
The meme coin’s price bounced off $0.0000078 support and broke back above $0.0000091 resistance, which could signal a resumption of the Uptrend with a +25% upside potential to $0.0000113.
Despite the hope of a rebound, AltFINS think the short-term and medium-term trends are still down, while the long-term trend is up.
Source: altFINS – Start using it today
Based on the Moving Average Convergence Divergence Indicator (MACD), MACD Line is still below MACD Signal Line but momentum may have bottomed since MACD Histogram bars are rising, which suggests that momentum could be nearing an upswing.
Price is neither overbought nor oversold currently, based on RSI-14 levels
Based on the analysis, the next resistance level are $0.0000091, then $0.0000113. However, if the price dips, we could see a fall to $0.0000078, then $0.000006
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The post Top Analysts Predict 25% Spike for PEPE Meme Coin Despite Mixed Signals: Key Resistance and Support Levels Outlined appeared first on CaptainAltcoin.