Will Pepe Coin Price See 22% Surge As Bullish Momentum Builds?
The post Will Pepe Coin Price See 22% Surge As Bullish Momentum Builds? appeared on BitcoinEthereumNews.com. Pepe coin price has gained a lot of traction to become one of the most active meme coins, raising the attention of traders after a big rally. The token surged over 30% on May 8 as it broke major technical levels on the way to a level hinting at yet higher animosity in the broader trade of meme coins. With traders speculating more gains, PEPE’s price is nearing vital resistance levels, which set its next major course. Pepe Coin Rallies Over 30% as it Breaks Key Levels On May 8, Pepe coin increased by more than 30% back to the $0.000010 mark and above its 200-day Exponential Moving Average (EMA). This rally started with a long-legged doji candle on May 6 that finished a morning star pattern that is frequently associated with bullish reversals. The high active price traded throughout the day led to a strong-bodied green candle, confirming bullishness in the trade. Pepe Coin Price Chart Source: TradingView Trading at $0.00001308, a break above the 200-day EMA will signal a possible change in the long-term trend. The bullish outlook is further confirmed by the positive crossover of the MACD and signal lines. However, a possible retest of the 23.60% Fibonacci retracement level at $0.00001025 may present a short-term risk that could kick-start a 6% retrace in the event of a breakdown in this support. More so, PEPE coin has broken the 23.60% Fibonacci retracement level at $0.00001025 and is heading for the 38.20% level at $0.000013344. This is indicative of a possible 22% upside from present prices and is consistent with sentiment in the markets and technical momentum. Nevertheless, if the price fails to sustain its current momentum, a revisit of the 23.60% level could trigger a more intensive correction down to $0.000008832, an 18% downside risk. Pepe Open…
The post Will Pepe Coin Price See 22% Surge As Bullish Momentum Builds? appeared on BitcoinEthereumNews.com.
Pepe coin price has gained a lot of traction to become one of the most active meme coins, raising the attention of traders after a big rally. The token surged over 30% on May 8 as it broke major technical levels on the way to a level hinting at yet higher animosity in the broader trade of meme coins. With traders speculating more gains, PEPE’s price is nearing vital resistance levels, which set its next major course. Pepe Coin Rallies Over 30% as it Breaks Key Levels On May 8, Pepe coin increased by more than 30% back to the $0.000010 mark and above its 200-day Exponential Moving Average (EMA). This rally started with a long-legged doji candle on May 6 that finished a morning star pattern that is frequently associated with bullish reversals. The high active price traded throughout the day led to a strong-bodied green candle, confirming bullishness in the trade. Pepe Coin Price Chart Source: TradingView Trading at $0.00001308, a break above the 200-day EMA will signal a possible change in the long-term trend. The bullish outlook is further confirmed by the positive crossover of the MACD and signal lines. However, a possible retest of the 23.60% Fibonacci retracement level at $0.00001025 may present a short-term risk that could kick-start a 6% retrace in the event of a breakdown in this support. More so, PEPE coin has broken the 23.60% Fibonacci retracement level at $0.00001025 and is heading for the 38.20% level at $0.000013344. This is indicative of a possible 22% upside from present prices and is consistent with sentiment in the markets and technical momentum. Nevertheless, if the price fails to sustain its current momentum, a revisit of the 23.60% level could trigger a more intensive correction down to $0.000008832, an 18% downside risk. Pepe Open…
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