PEPE Price Analysis: Pepecoin Price Offers Last Pullback Opportunity Before a Massive Upmove

PEPE Price Analysis: In the 4-hour time frame chart, the falling Pepecoin price took a sideways turn suggesting the bearish momentum is getting exhausted and the buyers have an opportunity to take trend control. Moreover, the technical chart shows the formation of a famous bullish reversal pattern called inverted head and shoulder. This chart pattern could assist buyers to replenish bullish momentum and push the asset price higher. 

Key Points

• A potential breakout from $0.0000021 could set the PEPE price for a 48% rally
• A bullish swing in the Bollinger band indicator increases the possibility of price recovery
• The 24-hour trading volume in the Pepecoin coin is $339.5 Million, indicating a 16% loss.

Source-Tradingview

The inverted H&S pattern consists of three main components: the left shoulder, the middle head, and the right shoulder. As of now, the Pepecoin price trades at $0.0000016 and forms the right shoulder part of the pattern.

Amid the current uncertainty in the market, the Pepecoin price is trying to sustain above the $0.00000157 low of the right shoulder. If the price manages to hold above the mentioned support, the memecoin is likely to rise 25% and hit the $0.0000021 neckline resistance of this pattern.

Also Read: More Links Emerge Between Elon Musk, PEPE Coin

A potential breakout from this aforementioned neckline will accelerate the buying momentum and set the memecoin for another 48% rally to hit $0.00000314.

On a contrary note, a breakdown below the $0.00000157 immediate support could offset the bullish thesis.

Technical Indicator

Moving Average Convergence Divergence: The flattish MACD(blue) and signal(orange) lines with several crossovers accentuate the ongoing uncertainty in the market

Bollinger Band: Along with the neckline breakout, the PEPE price will also challenge the upper band of the BB indicator suggesting the interested could look for opportunities for momentum trading.

Pepecoin Coin Price Intraday Level

• Spot price: $0.00000169
• Trend: Bearish
• Volatility: Low
• Resistance levels: $0.0000021 and $0.0000024
• Support levels: $0.00000157 and $0.00000114