The post Is PEPE Price Reversal The Best Buying Opportunity in 2024? appeared first on Coinpedia Fintech News
With a declining trend, the broader market crash intensifies the PEPE price correction phase in PEPE. However, the meme coin survives the downfall at a crucial support despite breaking under the $0.00010 psychological mark.
Since the loss of the psychological cushion, the bullish endeavor to reclaim the level is slowly picking up pace. So, let’s find out if the PEPE price prediction of a bullish surge ahead stands true.
PEPE Price Performance
After losing the $0.000010 psychological cushion and the 200D EMA, the downfall in PEPE hits the descending support trendline. At the right moment, the broader market outlook starts to rebound and the meme coins regain momentum.
TradingView
With a long-tail candle revealing underlying demand, the PEPE price takes a sideways under slightly under the 200D EMA. However, the intraday growth of 6.18% creates a bullish candle to undermine the 4.85% drop last night.
Currently, the PEPE price trades at $0.00000781 as the trading volume lights up to support the recovery run. Further, the recovery sprouting from the support trendline increases the bull cycle chances in the falling channel.
Technical Indicators:
RSI: The daily RSI line spikes up from the oversold boundary line with the lower price rejection. Further, it sustains an uptick during the sideways shift, teasing strong underlying support.
EMA: As the buyers struggle to reclaim the lost dynamic support of the 200D EMA, the 50D EMA is in a free fall. Thus, the exponential average lines warn of a death cross.
Will PEPE Cross $0.000010?
With a bullish cycle starting to gain momentum, the meme coin is heading toward multiple high-supply resistances. However, the short-term recovery and the recovering bullish outlook in the long-term make it a dip to buy.
As per the price analysis, the uptrend could challenge the overhead trendline at $0.00001047. However, a bullish breakout of the psychological mark and the resistance trendline will result in a price surge to $0.0000166.
