Many meme coins have jerked up following the recent surge across the crypto market. But it appeared Pepe leads the park amongst the top three meme coins with a 30% increase in the last 24 hours.
In September, Pepe established support at the $0.0000006 level and increased for two weeks before it later encountered resistance in the first week of the month. The price rolled back, but it managed to hold above the mentioned support last week.
It slowly bounced back and steadily increased with a double-bottom formation until the price exploded to $0.000001 yesterday due to a massive surge in volatility. It attempts to reiterate actions today, but buying pressure appeared to slow down at the moment
If the buying pressure drops and Pepe fails to find support above the $0.00000085 level, the price may roll back to last week’s bounce level to foot another rally.
But if we look at the current market structure plus the ongoing bullish sentiment surrounding the market, the surge in volatility is expected to continue as soon as more volume flows into the market.
Pepe currently looks bullish on the daily chart as the bearish cycle suspends temporarily. A dip below last month’s low could bring the bears back. but as it stands, more positive actions are likely to play from a technical standpoint.
However, it is currently the top gainer of the market as per coinmarketcap data. And in terms of gain, Pepe is by far up than Doge and Shiba with a 45% increase in the past week.
Pepe’s Key Levels To Watch
Pepe may pull back to the recently cracked resistance level of $0.000000854 as support. If the level fails to contain drops, it may further navigate $0.00000072 and $0.00000061 as the next support.
If the asset pushes through the $0.00000106 resistance level in the next upsurge, the higher resistance levels to consider for testing would be $0.00000132, $0.00000147 and mainly $0.00000188 respectively.
Key Resistance Levels: $0.00000106, $0.00000132, $0.00000147
Key Support Levels: $0.000000854, $0.00000072, $0.00000061
- Spot Price: $0.000001
- 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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