PEPE Price Sees Breakout And Retest: Could It Gain 60% in 2024
Pepe (PEPE) crypto has witnessed slow and steady growth over a wider time frame. Since June, the PEPE price has declined due to resistance from a descending trendline.
Additionally, the price triggered a breakout from the trendline, and a retest was observed. During the retest, it smashed the key moving averages.
After the retest, the momentum has slowed, holding over the 20-day exponential moving average (EMA). It needs substantial volume to trigger a bullish momentum for a more extended period. Let’s see how the PEPE crypto price performs after the breakout.
Could PEPE Price Trigger Another Breakout?
Crypto Bulls God (@CryptoBullGod) is optimistic about the PEPE price. He holds the belief that the PEPE coin might be beneficial for the future.
He claimed that the price action might repeat history as it has formed another symmetrical triangle pattern weekly. If it triggers a breakout, another bullish momentum can be seen.
Technical Analysis of PEPE Price Over 1-D Timeframe
Pepe crypto was trading at $0.0000103, which has dropped by 2.37% over the past 24 hours. The market capitalization was $4.36 Billion, and the 24-hour trading volume was $488.77 Million.
The bearish trend halted in August, and the momentum slowly shifted toward the buyers’ hands. Since August, the price has been continuously pushed down by the downside. Moreover, the price has departed from the 200-day EMA.
If the digital asset price surpasses the last swing high, it could generate a bullish signal.
Suppose the PEPE coin price manages to sustain over the $0.0000130 hurdle; strong buying momentum can be seen. If the trading volume remains strong, the price has the potential to gain 60% in the next few months.
On the other hand, if the PEPE price doesn’t gain momentum, sellers could dominate soon. Suppose the crypto price starts trading below the 200-day EMA; sellers may dominate further.
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