Pepe Coin Price Prediction Hints Last Pullback Before $PEPE Breaks $0.00001
Highlights
- The PEPE coin shows the formation of a pennant pattern— a structure known to offer buyers sufficient rest to regain strength before the next leap.
- A bullish breakout from the pattern’s resistance trendline will renew buying interest among traders.
- The 24-hour trading volume in the Pepe coin is $683 Million, indicating a 55% gain.
Pepe Coin Price Prediction: On Monday, the cryptocurrency market witnessed a significant inflow following the lead of Bitcoin price recovery to $72000. This recovery accelerated the relief rally for a majority of altcoins but especially the memecoin sector. The top assets of this category like Dogecoin (DOGE), Shiba Inu (SHIB), Pepe Coin (PEPE), and Bonk, show recorded a notable uptick reflecting the investor’s interest in them during the market rally.
Also Read: Crypto Price Prediction 4/8: Memecoins Gain Momentum With BTC Surge to $72K
Will the Bullish Pennant Lead to a Major Price Rally?
For over a month, the Pepe coin price has traded sideways resonating with the two converging trendlines of a bullish pennant pattern. The continuation setup developed above the 50% retracement level also highlights health retracement which allows the buyers to regain control over this asset.
On April 5th, the Pepe Price witnessed its latest reversal from the pattern’s support trendline, bolstering the 20% up to reach the $0.0000076 mark. If the broader market remains bullish, the coin buyers may push the price another 8% to hit the overhead trendline at $0.0000082.
A successful breakout above the pennant pattern will favor buyers and signal the continuation of the recovery trend. The post-breakout rally could chase the initiated target of $0.0000108, followed by $0.000013 and an ambitious high of $0.0000167.
However, on a contrary note, if the coin price breaks below the lower support trendline, the supply pressure intensifies and prolongs the current correction. This breakdown could push the Pepe coin to the $0.00000313 mark.
Technical Indicator
- Super Trend: The daily chart projecting a green film on the PEPE price indicates the broader trend remains bullish.
- Moving Average Convergence Divergence: The MACD(blue) and Signal(orange) moving flat above the midline often indicate a constructive pullback for buyers to recuperate strength.
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