PEPE Price Analysis: Pepecoin Set the Stage for 38% Rally If Buyers Surpass this Resistance
PEPE Price Analysis: The pepecoin price is witnessing a negative impact of the ongoing uncertainty in the market as it continues to plunge lower in the price chart. However, this downfall moves in a fixed range between two downsloping trendlines indicating the formation of a falling channel pattern. Here’s how this pattern can influence the Pepecoin future and how interest traders can benefit from it.
Key Points
- The falling channel pattern governs the ongoing correction in PEPE
- A potential breakout from overhead resistance will set the PEPE price for a 38% rally
- The 24-hour trading volume in the Pepecoin coin is $222.5 Million, indicating a 21.5% loss.
Source-Tradingview
For over a week, the Pepecoin price has showcased a steady downfall under the influence of a falling channel pattern. From the peak of $0.00000209, the coin price tumbled 28% to reach the current price of $0.00000151.
In theory, the falling channel pattern is known as a bullish continuation pattern which intensifies the underlying buying momentum once the price breach the resistance trendline. Therefore, the falling Pepe price is likely to give a bullish breakout from the overhead trendline.
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A 4-hour candle closing above the trendline could offer an entry opportunity to interested buyers and drive the prices 38% higher to hit the last swing of $0.00000209.
Conversely, until the pattern is intact the Pepe price may continue the downfall march.
Technical Indicator
Moving Average Convergence Divergence: The flattish MACD(blue) and signal(orange) lines with several crossovers signals an indecisive sentiment in the market.
Exponential Moving Average: The 20 EMA acts as a dynamic resistance against rising prices.
Pepecoin Coin Price Intraday Level
- Spot price: $0.00000152
- Trend: Bearish
- Volatility: High
- Resistance levels: $0.0000016 and $0.00000182
- Support levels: $0.00000143 and $0.00000132
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