Meme coins are popping up again following the latest increase across the crypto space. Pepe currently leads the park with a 48% gain in the last 24 hours. It broke out of a structure and looked set for a huge rally.
This month, Pepe bounced back from $0.00000087 – a three-month low – after correcting for two months. It reclaimed the crucial $0.000001 level and slowly climbed until it reached a key resistance trendline that suppressed buying pressure during the corrective phase.
Due to a rejection, the meme coin consolidated for a week and broke out of the resistance trendline last week with a strong close above the key $0.0000012 and $0.0000013 resistance zone.
Buying volume increased yesterday and the price surged through several key resistance levels to a daily high of $0.0000023. It broke out of structure on the higher timeframes and now looks poise for a long-term rally.
It has retraced from that high following slight rejection. A continuous surge in volatility could see the price near its all-time high before breaking to a new high. In the opposite direction, it may pull back to the recently flipped resistance levels for support before rallying hard.
Other meme coins like Bonk and Floki have responded well to the latest positive change in the crypto space. We can expect them to break out of their mid-term structure if the volatility continues to flow into the meme coins industry.
PEPE’s Key Levels To Watch
Pepe’s closest support for a pullback lies at the $0.0000019 and $0.00000175 levels that flipped overnight. The $0.0000015 level is the lower support to watch in case of more pullback.
Toward the upside, $0.0000025 and $0.000003 are the resistance levels to consider for a test. The $0.0000035 level would be the next area of interest for the bulls.
Key Resistance Levels: $0.0000025, $0.000003, $0.0000035
Key Support Levels: $0.0000019, $0.00000175, $0.0000015
- Spot Price: $0.0000021
- 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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