Market Analysis

PEPE PRICE ANALYSIS & PREDICTION (May 16) – Pepe Fakes Out Following Over 100% Gains In A Month, New Potential Rally In Play? 

The recent performance in Pepe’s price has signalled a notable shift in the trend as it set a new bullish tone for other meme coins. Sentiment has changed and the bulls are now prepared for a massive gain.  

Increasing by 30% in a week, Pepe fake-out of a crucial monthly resistance to reach a new milestone today. Unfortunately, it saw a rejection and retraced slightly due to drops in the global market cap. 

That saw the meme coin through a small loss today but it has bounced briefly and is now poised for more surges on the daily outlook. However, its bullish trajectory is still valid on the weekly scale. 

If we consider a clear breakout, Pepe has no major resistance level to suppress the buyers on their way up.  This could lead to a huge rally by the end of this week – provided that the crypto market stays calm. 

Anticipating the next move up, it is likely to tap the $0.00012 level before retesting the recently broken resistance as support on the lower timeframe. Suspending such a move could lead to a massive run-up, followed by a sharp retracement. 

Overall, Pepe is up by exactly 1000% since the start of the year. While the bears are likely to suffer more losses, bigger gains should be expected in the long term.

PEPE’s Key Levels To Watch

Source: Tradingview

While the $0.0000108 resistance is posing a threat to the buyers, the closest target level for a clear breakout lies at $0.000013. Looking ahead, the mentioned $0.00015 level and $0.000020 are the next areas of interest to watch.

The recently flipped $0.0000092 level is considered as support for a potential pullback. The $0.00000761 and $0.000006 levels are lower supports to keep in mind for drops.

Key Resistance Levels: $0.0000108, $0.000013, $0.000015 

Key Support Levels: $0.0000092, $0.00000761, $0.000006

  • Spot Price: $0.0000106
  • 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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