Key Takeaways:

  • Pepe coin price started a fresh increase from the $0.000010 support.

  • It broke a major contracting triangle with resistance at $0.0000110 on the daily chart.

  • The price could gain bullish momentum if it clears the $0.00001220 resistance.

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NEW DELHI (CoinChapter.com) — Pepe coin (PEPE) is signaling a major bullish breakout from $0.000010. If the price closes above the $0.00001220 barrier, it could surge over 20%.

Pepe coin Price Eyes Fresh Surge

In the last Pepe coin technical analysis, we discussed a couple of important support levels near $0.000010. The bulls were active above the $0.000010 zone, and they were able to push the price higher. There were a couple of spikes near $0.000010 and the price recently reacted to the upside.

The price broke a major contracting triangle with resistance at $0.0000110 on the daily chart. There was a clear move above the 23.6% Fib retracement level of the downward move from the $0.0000172 swing high to the $0.00000977 low.

Pepe coin price daily chart | Source: PEPE/USD on TradingView.com

Today, the price is up nearly 10% and the last two daily candles were bullish, unlike Bitcoin. The current signs suggest a high chance of more upsides. The first major hurdle on the upside sits near $0.00001220 and the 50-day simple moving average (blue).

A successful close above the 50-day simple moving average (blue) could open the doors for a fresh surge. In the stated case, PEPE price could easily drift toward the 50% Fib retracement level of the downward move from the $0.0000172 swing high to the $0.00000977 low at $0.0000135.

A close above the $0.0000135 level could set the pace for a move toward the $0.0000155 resistance. The next key resistance is near $0.0000165, above which the price could accelerate higher toward the $0.0000172 level.

Another Decline?

Conversely, Pepe coin could fail to clear the $0.0000122 resistance zone and the 50-day simple moving average (blue). In the stated case, the price could again dip below $0.0000110.

The first major support is near the $0.000010 level and the triangle’s lower trend line. A downside break below the $0.000010 support might spark short-term bearish moves. The next key support sits at $0.00000880. A downside break below the $0.00000880 support might spark a larger decline. The next key support sits near $0.00000720. Any more losses might call for a test of $0.00000650.

This past week, Pepe’s team celebrated Ethereum’s win as the SEC closed its investigation into Ethereum 2.0. This is positive for not only ETH but also for its ecosystem.

A victory for all $PEPE https://t.co/V0ZrCUJf87 pic.twitter.com/cdRxB3FhgO

— Pepe (@pepecoineth) June 19, 2024

Overall, PEPE price is signaling a strong bullish reaction from $0.000010. If the bulls reclaim the 50-DSMA, there could be a fresh rally and the price might climb toward $0.000015.

The post Pepe Coin Signals Bullish Breakout: Market Insights and Predictions appeared first on CoinChapter.