💵 According to NewsBTC: $PEPE Price Surges Over 10%

In the past few sessions, PEPE saw a steady increase above the $0.000010 resistance. It outpaced Bitcoin ,Ethereum, and MEME coins. There was a 10% increase, and the bulls were able to push the price above the $0.0000110 level.

It traded as high as $0.00001148 and is currently consolidating gains. The price is holding gains above the 23.6% Fib retracement level of the upward move from the $0.00000959 swing low to the $0.00001148 high. It is also well above the $0.000011 and the 100-hourly Simple Moving Average.

Immediate resistance is near the $0.0000115 level. There is also a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair.

The first key resistance is near $0.00001155. A close above the $0.00001155 resistance zone could send the price higher. The next key resistance is near $0.000012. If the bulls remain in action above the $0.000012 resistance level, there could be a rally toward the $0.0000125 resistance. Any more gains might send the price toward the $0.0000132 resistance.

If PEPE fails to clear the $0.0000115 resistance zone, it could start a downside correction. Initial support on the downside is near the $0.0000110 level. The next major support is at $0.0000105 or the 50% Fib retracement level of the upward move from the $0.00000959 swing low to the $0.00001148 high.

If there is a downside break and a close below the $0.0000105 level, the price might accelerate lower. In the stated case, the price could even drop below the $0.000010 support zone.