PEPE Coin Price In Pullback Territory; Could It Surge Post A Push?

• 100% of its maximum supply was circulating in the open market.
• Pepe price has jumped by 160% over the past 20 days.

Pepe (PEPE) price had a remarkable November, gaining around 128% as of Nov 25. At the beginning of November, the Pepe coin price displayed mild weakness and the trend reversed. It touched the $0.0000250 mark in a sharp buy move and recorded a new ATH. However, it has failed to hold this level and declined slightly.

Post-fall, the PEPE price passed a short-term consolidation zone. It has been wandering in pullback territory and has managed to defend the $20-day EMA. Let’s see who wins the battle and what could be its outcome.

Another Rally in PEPE Coin or Profit Booking Ahead?

PEPE crypto was trading at $0.0000203 at press time and has risen by 0.69% over the past 24 hours. Its market capitalization was $8.57 Billion and the 24-hour trading volume was $2.84 Billion.

On November 21st, the PEPE coin price attempted to pull back by engulfing the previous two candlesticks. However, it has failed to continue the bullish momentum, and minute sellers were also there. Moreover, the price has managed to defend that candle’s low which could be a bullish sign.

For a bullish rally, a bullish marubozu candlestick is needed which could engulf the previous few candles. If the price surpasses the last swing high, strong bullish momentum could be seen. Buyers may lead the trend if the trading volume supports this move.

On the other hand, if buyers lose the battle and the crypto asset price slips below the 20-day EMA, selling could be seen. Losing the 20-day EMA could invite sellers and the price may melt to the 200-day EMA. Here, profit booking can be seen and a great fall in the PEPE crypto price can be analyzed.

Turning to the technical indicators, the MACD has triggered a death crossover with the Signal line. However, it holds over the Zero line and the histograms were red, reflecting the buyers’ involvement. RSI has displayed a bearish crossover with the RSI-based moving average.

Is PEPE Price Ready to Shoot Up Soon?

Crypto Candy is a cryptocurrency analyst who believes that the PEPE crypto could rally. In an 8-H time frame, the PEPE price has broken out from a descending trendline and has performed a retest.

$PEPE

Expecting next leg up soon… pic.twitter.com/O1ybmREBDe

— Crypto Candy (@cryptocandy24x) November 25, 2024

According to this analysis, the price is expected to surpass the $0.0000300 mark. The probability of a bullish rally increases because of the recent sentiment of the cryptocurrency market

PEPE Price Prediction (Short-term) Will Depend on 20-day EMA

The recent performance of the Pepe cryptocurrency reveals a complex market dynamic. The coin experienced a remarkable surge of 160% over the past 20 days and achieved significant gains in November.

The ability of PEPE to maintain support at the $20-day EMA will be crucial in determining its next moves.

If the price breaks above the recent swing highs with strong trading volume, it could signal a bullish rally. Conversely, failure to hold above the 20-day EMA may lead to increased selling pressure and a potential drop towards the 200-day EMA. This suggests that a period of profit booking may be on the horizon.

Technical indicators such as the MACD and RSI are currently mixed, indicating uncertainty in the market.

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.