The Pepe memecoin continues to display significant bullish momentum over recent times. The Pepe coin price has added approximately 37% within the past 24 hours and has cumulatively added 161.23% this month, indicating a strong bullish influence for the coin in the market.
The PEPE price traded in a closed range between $0.00000086 and $0.00000109 for about two weeks, following which the price recorded a jump of over 33% within three days. However, the bulls faced rejection at the resistance level of $0.00000137, after which the price displayed a neutral trend for the next nine days.
As the market volatility increased, the bulls made multiple attempts to break out of the resistance level but faced repeated rejection. After this, the bulls successfully broke out of the resistance level and recorded a jump of 52.55% within 24 hours, following which the price traded sideways for a short period.
Recently, the Pepe memecoin regained momentum and recorded a jump of approximately 34% in valuation, after which the price faced rejection at $0.00000280 and traded sideways for a while. Currently, the Pepe coin is testing a breakout, the outcome of which is unpredictable.
The technical indicator, MACD, displays a constant green histogram, indicating a strong buying pressure in the crypto industry. Further, the averages show a rising pattern, suggesting the price will continue gaining value in the coming time.
Will Pepe Coin Go Up?
If the market pushes the price above the resistance level of $0.00000280, the bulls will regain momentum and test its upper resistance level of $0.00000315. Moreover, if the bulls continue to hold power, it will continue rising and prepare to test its upper limit of $0.00000350.
Conversely, if the bears overpower the bulls and gain control over the market, the PEPE price will lose momentum and fall to test its support level of $0.00000245.
If the bears continue to dominate the market, it will further plunge and prepare to test its lower support level of $0.00000209 in the upcoming weeks.
