#PEPE Price prediction: Is there still 50% room for rebound?
What we can gather from the analysis is that PEPE is trading at key resistance at $0.0000084 and close to the 200 exponential moving average (EMA) on the daily time frame. Furthermore, it has been consolidating within a tight range of $0.0000069 to $0.00000822 for four consecutive days.
If PEPE breaks out of the consolidation zone and resistance, a 50% surge to $0.0000126 or even higher levels is very likely in the coming days.
Most cryptocurrencies are currently experiencing major breakouts, with all of them seeing significant upward trends since the market crash. However, PEPE remains in consolidation territory, which is a positive sign for an upcoming rally.
As of now, PEPE’s main consolidation areas are located near $0.0000077 below and $0.00000848 above.
If it breaks and surges to the $0.00000848 level, short positions worth nearly $860,000 will be liquidated. Conversely, if PEPE’s price falls below the $0.0000077 level, nearly $5 million in long positions will be liquidated. Higher bull leverage suggests bulls are in control, while bears look exhausted.
Again, with the current market conditions, there are opportunities for layout
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