NewsletterPEPE Coin Price Prediction: Channel Pattern Signals 30% Upswing in Near Term
The Pepe coin has witnessed a steady correction over the past six weeks, falling with a series of lower highs and lows. The downfall initiated from the $0.00000188 high, tumbled the price by 57.6% to reach the June low of $0.00000082. However, the daily chart indicates the channel pattern formation this fall, showcasing a possibility of recovery.
Also Read: PEPE Coin Developers Selling Huge? PEPE Price Tanks by 20%
Pepe Coin Daily Chart: Key Points
- The falling channel pattern governs the current downfall in the PEPE price
- A bullish bounce from the lower trendline of the chart pattern sets the price for a 30% upswing
- The 24-hour trading volume in the Pepe coin is $304.6 Million, indicating a 301% gain.
Source-tradingview
The ongoing correction in the Pepe coin price has entirely evaporated the gains obtained during the June-July rally. With an intraday fall of 6.3%, the coin price plunged back to the channel’s lower trendline. A long tail rejection attached to the daily candle reflects the altcoin price witnessed high demand pressure at this dynamic support.
Under usual conditions, the aforementioned support should bolster an upswing back to the overhead trendline.
Thus, with increasing bullish momentum, the Pepecoin coin may rise 30% from the current trading price of $0.0000009
Can Pepe Coin Rise Back to the $0.00000188 Level?
Amid the ongoing downfall, the Pepe coin rebounds twice from the upper trendline and four times from the lower, indicating its strong influence on pride behavior. An anticipation rally may surge the prices by 30% but will prolong the downtrend until the upper trendline is intact, therefore, to obtain a better confirmation of trend change, the buyer should give a bullish breakout from the upper resistance, which may drive the prices back to $0.00000188 mark.
- Relative Strength Index: The daily RSI slope at an oversold region may attract more buyers luring for discounted assets
- Bollinger Band: A lower price rejection at a bottom band of the Bollinger band indicator projects a high possibility of a bullish reversal.
- XRP News: Gemini Adds RLUSD Support on XRPL for Faster Payments
- Breaking: Fed Cuts Interest Rates by 25 Bps at FOMC Meeting, Matching Expectations
- Elon Musk’s SpaceX Moves $94M in Bitcoin Amid IPO Plans: Sell-Off or Custody Shuffle?
- Michael Saylor’s Strategy Challenges MSCI Over Bitcoin Treasury Exclusion Plan
- FOMC Meeting: Experts See ‘Hawkish’ Cut as Crypto Traders Price In Third Cut This Year
- Top Analyst Sees Ethereum Price Having a “Big” Breakout as Catalysts Align
- Sui Price Breaks Out of Falling Wedge: Is $2 Next Target?
- Chainlink Price Prediction: Why $20 is Next Key Target
- Solana Price Targets $200 Amid Increased Whale Accumulation
- Cardano Price Outlook: Expecting a 30-40% Bullish Wave Soon
- XRP Price Eyes Big Breakout as Triangle Pattern Signals 16% Move
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
