- The Pepe price has triggered a breakout from a major resistance line.
- PEPE coin’s price has gained 58% this month.
The Pepe price has displayed strong buying pressure this month and has been up by 58% till now. Since March, the Pepe coin price has been struggling below the significant resistance level of $0.00000900. It has recently triggered a breakout from the primary resistance level with a pump of 280% in trading volume.
The asset price has risen since mid-April, forming higher highs and higher lows. It has recorded an all-time high of $0.00001119 on May 13, 2024.
At press time, the Pepe crypto price traded at $0.0000101, up by 1.92% in the past 24 hours. The market capitalization is $4.25 Billion, and the 24-hour trading volume is $2.15 Billion. The PEPE crypto ranks 7th in the cryptocurrency market according to trading volume.
PEPE Price at All-Time High: Is a Long-Term Uptrend Expected?
The Pepe crypto price has been bullish since February 2024, gaining roughly 1000%. According to the technical chart, the price has triggered a breakout.
The sudden rise of 280% in trading volume may attract buyers after this breakout. If the buyers show interest and the price sustains over the major resistance level, the price may keep surging for the long term and record new all-time highs.
On the other hand, if the asset price fails to sustain the all-time high and trading volume decreases, then the price may fall below $0.0000900. Suppose the price is sustained below the major resistance level, and then most investors might prefer to book profit, which may lead to bearish momentum.
According to the technical indicators, the Pepe crypto price is trading over the key moving average, indicating bullish signals. RSI has rapidly extended from 40 to 73 and is heading toward the overbought zone.
A Sudden Change of 280% in Volume Detected
According to the given data, the trading volume has jumped by more than 300% in the past few hours. Since April, the trading volume has been consolidating in a range, but the price has shown positive changes. The sudden change in trading volume has impacted the price positively.
Price vs. Social Dominance Analysis
The social dominance and the price graph had consolidated until February 2024. However, the price witnessed enormous change, and engagement on social media like Telegram, X, and Instagram has increased since February 2024. These changes led the Pepe crypto price to an all-time high.
Conclusion
The Pepe coin price has been on a strong bullish trend and has reached an all-time high. The price has triggered a breakout from the major resistance level, and the trading volume has surged by around 280% in just a few hours. If the price is sustained at over the $0.00000900 level, buyers may follow the trend.
Technical Levels
Support: $0.00000655 & $0.00000500
Resistance: $0.0000110 & $0.0000150
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.