Amid the latest market recovery, meme coins are popping out again with Pepe charting over 50% gains in the past week. It is the daily crypto spotlight following a breakthrough key resistance, leading altcoins rally.
In late May, Pepe initiated a drop and started to lose momentum after printing a new high at the $0.000017 area. That drop led to a six-week correction and the price dipped to around $0.0000076 earlier this month.
However, it held tightly above that price level and initiated a buy after a week’s consolidation. The bulls reappeared and the market started to show strength again.
Trading got much more interesting this week as volatility increased significantly and the meme coin went through the most volatile buying period in over a month. Anyway, the week is just starting. So, we can expect a bigger price movement in the next few days.
Since the market started to recover from the recent dip, speculations have changed positively and as we can see, Pepe is now maintaining a bullish sentiment following an impressive surge over the last 48 hours.
Without any doubt, the sentiment is expected to last long to set the market on a new buying phase. The bears have lost control. If by any means they find their way back into the market, we may see a retracement before resuming bullish impulsive movement.
PEPE’s Key Levels To Watch
Pepe is facing the $0.0000135 level at the moment. If the price surges through this level in the next few hours, the next area of interest for buying would be the $0.0000158 and $0.0000172 resistance levels.
There are no signs of bears right now. But if they show up, the market may retrace to $0.0000108 and possibly to $0.000009. There’s also support at $0.0000076 in case of a breakdown.
Key Resistance Levels: $0.0000135, $0.0000158, $0.0000172
Key Support Levels: $0.0000108, $0.0000092, $0.0000076
- Spot Price: $0.0000188
- 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.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!