- Pepe Price Prediction is bullish and suggests a rise in the long term.
- PEPE Price is in short term correction mode but likely to see a bullish trend reversal.
- Pepe crypto holds the 50 day EMA showcase initial signs of trend reversal.
Pepe Price Prediction favors the bulls and suggests a rise in the long term till it sustains above the demand zone. It had shown a surprising rally in the past few days and generated decent return for the investors after the listing.
The short term traders had booked their profit from the higher levels. Due to that, prices are retracing downward and returning back to the demand zone. Pepe buyers succeed to push the price above the 50 day EMA showing the initial signs of trend reversal.
The confirmation will come when buyers are able to break the $0.0000031306 hurdle. The trading volume in the PEPE crypto is on rise and up by 20% in the last 24 hours. It shows decent liquidity is available and buyers are active at the lower levels.
PEPE price is trading at 0.0000016164 with an intraday decline of -7.40%. The 24 hour volume to market cap ratio is 1.4482. At the beginning of May, PEPE crypto listed in reliable exchanges and began to trade. Initially it attracted the huge participation of the investors and prices rallied 170% approx from the lows.
Will Pepe Price hit a fresh high soon?
Pepe price hit a high at $0.0000045000 and witnessed minor profit booking. It began to decline by forming lower low swings and eroded the gains. The downfall halted near $0.0000010468 and buyers are trying to bring back the confidence of investors. If the momentum continues and prices succeed to break the $0.0000031306 hurdle then the probability of hitting the fresh high will increase.
However, if the coin begins to consolidate at current levels then it can be interpreted as signs of long term base formation. The technical analysis suggests, it is in the bulls grip and possibility of rebound from the demand zone is high.
PEPE price is highly volatile
PEPE Price generated high returns in a short period of time. So, if PEPE consolidates in range for a few weeks then it will bring stability and decrease the volatility in prices. PEPE crypto is trending due to the fact that many speculative moves are also possible in coming weeks which may cause confusion.
Till PEPE price sustains above $0.0000004971 the probability of the bullish trend reversal is high. The technical indicators like MACD generated a positive crossover but the curve is sloping sideways. It indicates prices might enter consolidation for the base creation. The RSI at 58 denotes neutral territory and balance between bullish and bearish positions.
Conclusion
PEPE Price prediction is bullish and suggests a rise in the long term. PEPE crypto witnessed profit booking from the higher levels and approaching the demand zone. The technical analysis suggests PEPE price is in bulls grip and possibility of rebound from demand zone is high.
Technical levels
Resistance levels : $0.0000031306 and $0.0000045113.
Support levels : $0.0000010468 and $0.0000004971.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.