$PEPE

The Pepe price soared 7% in the last 24 hours to trade at $0.00000691 as of 00:39 a.m. EST on trading volume that rose 35% to $890 million.

This comes as PEPE is the top gainer among the top five meme coins by market capitalization as the meme coin mania that erupted after the Bitcoin halving was completed takes a breather. The market cap of meme coins edged down a fraction of a percent in the past 24 hours to $54.8 billion.

Pepe Price Set For An Uptrend Over The Falling Wedge

PEPEUSD Chart Analysis Source:

The Pepe price has been on an uptrend since the end of February to hit an all-time high of $0.00001064, recorded on March 14. In April, Pepe has been on a downtrend, trading within the confines of the falling wedge pattern.

However, the bulls found support around $0.00000486 to push the price from the lower boundary of the wedge to trade above the upper boundary.

PEPE is also trading above the 50-day Simple Moving Average (SMA), a confirmation of the upward potential of the price. If the upward momentum continues to grow, it could encourage buyers to push the price above the 200-day SMA, confirming the recent momentum.

Additionally, the Relative Strength Index (RSI) is also trading within the oversold levels at 69, indicating that PEPE is under intense buying pressure from buyers, aimed at sowing the price even higher.

Pepe Price Prediction

The Pepe price will look to sustain its bullish momentum over the falling wedge, having breached the upper boundary. PEPE also aims to overcome the 200-day SMA hurdle at $0.00000691, acting as the immediate resistance level as they target $0.000010.

The movement of the RSI indicates that the bulls are buying with the aim of pushing the price even higher.

However, the 50-day SMA crosses below the 200-day SMA at $0.00000778, forming a death cross. A death cross may trigger a downward trend movement, pushing the price below the $0.0000048 support, which will form a double-bottom pattern, further cementing the long-term bullish sentiments