PEPE has risen twelve times from February to its new high so far
With the bull market hitting a new all-time high, will PEPE's upward momentum continue?
Will PEPE continue to lead the recovery of the entire market
Will PEPE reach $0.000020?
As the bull wave of altcoins rises in the cryptocurrency world, the meme coin industry is on the rise. Amid the rising bullish momentum, the rise in the price of PEPE tokens makes it the best performer among the top 100 tokens in 24 hours.
PEPE cost performance
With the breakout of the descending channel and the formation of a head and shoulders inversion, the price of meme coins is rising rapidly. As mentioned in our previous article, meme coins have absorbed the momentum of the bull market and are targeting $0.000020.
With the bullish reversal from the $0.0000050 mark, PEPE price action shows a rounding bottom reversal with the neckline at $0.000010. The upward trend is strengthening as buyers break through the psychological barrier of $0.000010.
Currently, PEPE price is $0.0000102 with an intraday gain of 3.39%. This reflects a continuation of the uptrend that rose 13.26% overnight. Therefore, the rise in demand increases the probability of a continued bull run.
Technical indicators:
MACD: The bullish trend of MACD and signal lines continues as the overall demand for Meme Coin grows.
RSI: The daily RSI line is close to the overbought border, reflecting a surge in buying pressure.
Thus, the momentum indicator predicts an increase in the bullish momentum of the PEPE price trend.
Will PEPE reach $0.000020?
With the increase in trading volumes supporting the bullish trend, the PEPE price may easily stabilize above the psychological mark of $0.000010. In this case, according to the Fibonacci levels, the uptrend may touch the 1.618 level, which is $0.000019.
On the other hand, a retest of the $0.000010 mark is likely. #Meme币你看好哪一个？ #5月市场关键事件 #PEPE
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