PEPE’s price has been on a downward trend over the past day, but its trading volume saw a 30.65% boost, suggesting that investors are beginning to have faith in the coin. At press time, it is trading at $0.0000007259.
Crypto Analyst “@Decilizer” shared with his followers today that $PEPE is “gaining strength,” and if Bitcoin maintains its bullish trend, the token may trim a zero from its price. He also mentioned that $SHIB and $DOGE are stepping up in the memecoin sector, leading the charge alongside PEPE.
PEPE’s Key Support and Resistance Levels
The chart posted by the analyst indicates two key support levels: $0.0000007 and $0.0000004. These levels have held steady during price dips, suggesting strong buyer interest. This $0.0000007 level has been tested multiple times, indicating it as a consolidation zone after minor pullbacks.
On the resistance side, PEPE is facing a challenge at 0.00000110 USDT. This level has previously rejected upward price movement, making it a significant hurdle. If PEPE can break above this resistance, it might push towards further bullish momentum, especially with broader market support.
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Show more +Show less – PEPE’s Chart Analysis: Technical Indicators Signal Momentum
The chart also shows the 50-period EMA (Exponential Moving Average) acting as dynamic support for PEPE’s price. This token remains above the EMA, which is generally considered a bullish signal. This suggests that the coin may be gearing up for another move higher.
Image Source: X/Decilizer
The RSI hovers around the 40-60 range, indicating neutral momentum. This shows that there is still room for price movement in either direction. Moreover, volume spikes also appeared during price surges, hinting at potential volatility.
Read Also: Chainlink Consolidates Below Key Resistance: LINK Price Rally Incoming?
What’s Next for PEPE?
Decilizer mentioned that PEPEs’ price saw an 11X surge in gains which is a substantial increase during favorable market conditions. He also said that if Bitcoin stays bullish, PEPE may trim a zero from its price.
However, this will likely require a strong catalyst, with memecoin interest and volume driving upward momentum.
Decilizer also mentioned that $SHIB and $DOGE are showing strength in the market. These two are stepping up, potentially encouraging a broader rally in the memecoin sector. He added that their performance could create a ripple effect, positively influencing PEPE’s trajectory.
Finally, while PEPE holds above its key support levels, traders and investors are waiting patiently for a breakout above 0.00000110 USDT, which could signal upward movement.
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