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- A 4.92% gain occurred in the PEPE coin price in the last trading session.
- The buyers are currently active at the lower levels, making the price rise.
The Pepe Coin is a popular meme coin named after the frog internet meme built on the Ethereum blockchain. The objective of making this coin was to boost the popularity of meme coins, like Shiba Inu and Dogecoin, etc. It aimed to be one of the top meme-based cryptocurrencies.
In the last 24 hours, the Pepe coin price gained around 4.92%. The trading volume of the coin has also increased by 107% in the last 24 hours. Its current market cap is valued at around $289,381,512. It has a total number of 420,690,000,000,000 PEPE coins out of which the current circulating supply is 391,790,000,000,000 PEPE coins.
PEPE Coin: Technical Analysis
In the last 7 days, the coin price has gained around 19.71 since it has taken support from the $0.00000060 level. The price seems very bullish in the current scenario and moving towards its September month high of $0.00000083 with support of the trendline.
The token price is currently moving up in the higher highs structure. However, the volume bar has started to decline, showing the weak momentum in the price. Token’s price is bullish at the moment and can reach its $0.00000083 resistance. The bullish trend may continue if the price closes above its $0.00000083 resistance and sustains above it. Thus, it may reach its next resistance at $0.00000110.
However, for the price to continue its long-term bearish trend, it must close below $0.00000060 support. Thus, it may continue its fall to its next possible support at $0.00000040. For now, the price is more likely to be in a range-bound market between $0.00000083 to $0.00000060 if it faces rejection from the $0.00000083 resistance.
Technical Indicators On The Current Trend
In the last trading session, the price closed above the 20 EMA and is currently sustaining above it. As long as the price is sustained above the 50 EMA, the chances of the price reaching the $0.00000083 resistance are high.
The relative strength index is near to 50 RSI level which is the neutral territory. This shows that the price is currently facing pressure by the sellers as well as the buyer at the time of writing.
Conclusion
The Pepe token price is in a bearish trend if we look at the longer period. Currently, the price is moving up after taking support from the $0.00000060 level and could reach its $0.00000083 resistance. If the price faces rejection from $0.00000083, then it may trade inside a range of $0.00000083 to $0.00000060 in the upcoming days. Otherwise, the price has to wait for a breakout or breakdown of this range.
Technical levels
Resistance Levels: $0.00000083 and $0.00000110.
Support Levels: $0.00000060 and $0.00000040.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
