As expected, Pepe advanced higher this week and reached a significant milestone today following a weekly breakout. It continued to lead the frog-themed coins rally and is currently the market’s top gainer in the last 24 hours.
Following last month’s bounce off the $0.00004 level, Pepe regained strength and maintained a higher high and higher low pattern on a daily chart. This pattern brought a significant recovery in the market as the bulls continued to take charge.
Last week, it attempted a break out of the $0.0000108 resistance level, (tapped in March) but failed due to multiple rejections. That rejection led to a mid-week drop before locating a solid support at $0.000009.
Pepe initiated a surge from that support and closed strongly above the March resistance level on Monday with a bullish engulfing candle. After retesting the resistance as support the following day, it continued to surge and reached a daily high of $0.00001433.
It rejected the daily high to a current trading price of $0.0000137. This may bring a pullback near the $0.000012 level before resuming the surge. A push above the daily high may facilitate bigger price movements in the future.
The price and volume are currently in disagreement on the daily chart, indicating an imbalance. This could trigger a sharp price retracement if the volume indicator level continues to decline. Nonetheless, Pepe is still looking bullish on the day.
PEPE’s Key Levels To Watch
Climbing through several levels in the past weeks, Pepe is now facing resistance at $0.0000143. A daily close above it could allow rally to the $0.000016, and potentially $0.000018 by the end of the week.
The support level to watch for a pullback is $0.0000116. If it fails to produce a rebound, there’s a close level at $0.0000108. Lower supports to consider are $0.0000092 and $0.00000761.
Key Resistance Levels: $0.0000143, $0.000016, $0.000018
Key Support Levels: $0.0000116, $0.0000092, $0.00000761
- Spot Price: $0.0000137
- 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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