Pepe continued to gain traction weekly after halting bearish actions this month. The price looks strong on the day as it charges towards a key resistance level. Breaking this resistance should signal a bullish move.
As most meme coins roll back to their yearly low in the recent fallout, Pepe found a solid ground after wicking at $0.000006 in the past month.
After a short bounce, which led to another reductions, the meme coin revisited this price level three weeks ago and started to recover daily. As seen in the chart below, it currently targets the $0.0000099 resistance – August’s high. A flip through it could facilitate a huge price movement.
But looking at the daily price actions, the ongoing recovery phase looks sluggish due to an insufficient volume inflow in the market. An increase in this inflow could trigger a significant recovery with a massive surge.
Failure to overcome this mentioned resistance may trigger a small drop before picking up again. The current monthly low serves as key support to the ongoing price increase. If the price falls and this key support fails to contain pressure, Pepe may extend bearish until it finds a new ground.
The price is currently strong daily as it gathers liquidity on the way up. A push above May’s high would validate a major reversal in the trend.
PEPE’s Key Levels To Watch
Once Pepe manages to overcome August’s high in the ongoing recovery, the $0.0000115 level would be the next resistance to watch, followed by $0.0000131. Higher levels for tests are $0.000015 and $0.0000171.
In case of drops, the support level to consider for selling is the monthly $0.00000633 low along with $0.0000055. The lower level to watch for drops is $0.000004 – the April’s low.
Key Resistance Levels: $0.0000099, $0.0000115, $0.0000131
Key Support Levels: $0.00000633, $0.0000055, $0.000004
- Spot Price: $0.0000087
- Trend: Bullish
- Volatility: Low
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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