Post by
cryptoalerts on Oct 26, 2024 4:27am
What’s next for Pepe if it breaks resistance?
Pepe (PEPE) has been trading in a tight range around the $0.00001 mark, but a closer look reveals a solid price structure. After hitting a low of $0.0000066 in July, PEPE has been steadily rising and seems poised to reclaim its yearly high of $0.0000016. This upward trend fuels the Pepe price prediction, suggesting a potential for further gains.
Analysts at WhaleInsider have noted the formation of a bullish pennant on the chart, which suggests that a breakout could be on the horizon. If this occurs, PEPE might see its market cap soar to $25 billion in the next bull market.
Currently, PEPE is consolidating around $0.00000892, with a key resistance level near $0.00001000. A successful move above this level could open the door to further gains, with the next target set at $0.00001364.
However, traders should be cautious; if the price drops below the support level of $0.00000892, it may signal additional downside risk.
In the past week, PEPE experienced a slight dip of 6.23%, but the coin has demonstrated impressive growth of 21.16% over the last month and 33.50% over the past six months. Presently, it trades between $0.0000097586 and $0.00001135.
The 10-day simple moving average sits at $0.000009827, just below the 100-day average of $0.00001012, indicating a period of consolidation. The Relative Strength Index (RSI) is at 49.70, suggesting that PEPE is neither overbought nor oversold.
As traders watch these levels, the potential for movement in either direction remains. Will PEPE break through resistance, or will it face more challenges ahead? Time will tell.
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