Pepe’s correction appears finished on a daily scale following a bounce off key support in the mid-week. It initiated a buy and saw a notable gain today. The price currently looks strong as it formed a fresh bullish pattern.
Following a two-week drop from $0.00000175 earlier this month, Pepe found support above the $0.0000012 level and regained strength with a massive surge today. Due to the latest calm in Bitcoin’s price, things are still looking a bit dicey for the meme coin.
However, the surge may fade away if the bears intercept the ongoing buying pressure again. If that happens, we should expect a drop below the current weekly low. Such actions could facilitate a deep correction near the October low.
But with the current bullish formation on the daily chart, more surge in volatility is likely to surface once the price increases above the current monthly high.
If that comes into play, we can expect a big price movement towards the $0.0000045 resistance level in the short term. A break above this resistance would validate more positive actions from a mid-term perspective.
Aside from taking charge now, the bulls are set to take more highs in the coming days. So far, it has charted over 120% gains in the last two months.
Pepe’s Key Levels To Watch
Now that the price is climbing back, it is important to keep an eye on the crucial $0.00000175 and $0.000001885 resistance levels for a breakout before rallying to $0.0000020 and $0.0000025 in the near term.
Pepe currently trades above the $0.00000147 level. If the price slips off this level, the potential support level for drops would be $0.0000012 and $0.000001.
Key Resistance Levels: $0.00000175, $0.000001885, $0.0000020
Key Support Levels: $0.00000147, $0.0000012, $0.000001
- Spot Price: $0.00000154
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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