PEPE Price Prediction: Bear Trap Sets Stage for 20% Price Surge
For over a week, the Pepe coin has traded with a narrow range created from the price extreme of the August 25th candle. As per this daily candle, a high of $0.00000095 and a low of $0.00000078 stand as strong resistance and support for coin traders. With the recent downturn in the crypto market, the PEPE sellers showed a breakdown attempt from the pattern’s support trendline as a signal to continue the downward projection.
Also Read: Pepe Coin, DYdX Awaits To See Bulls, Amidst TON Coin Facing Gains
Fake Breakdown Scenario Hints at a Potential Upswing
- The Pepe coin is trapped in a sideways trend stretched from $0.00000095 and $0.00000078 horizontal levels.
- A bearish breakdown from $0.00000078 puts PEPE at 15% downside risk
- The 24-hour trading volume in the Pepe coin is $77 Million, indicating a 10.9% gain.
Source- Trading
On September 1st, the falling Pepe coin price gave a massive breakdown from the range support of 0.00000078 with a significant red candle. Losing this support signals the replenished bearish momentum and sellers’ motive to continue to the prior downtrend.
However, today the PEPE price showed a gap up in the daily chart and entered the range levels. The seller’s failure to offer a suitable follow-up to the bearish breakdown reflects some weakness in their conviction.
If by the day’s end, the frog-themed meme closed above 0.00000078, the prior breakdown would be a bear trap, which may in response bolster the crypto buyers.
Will PEPE Price Regain the $0.0000009 mark?
In technical analysis, a bear trap is formed when the asset price gives a false indication of potential downward movement, but immediately reverts the price higher to trap heist sellers. Therefore, the PEPE price false breakdown from $0.00000078 will flip the price as viable support to surge the memecoin to $0.00000095
- Relative Strength Index: The daily RSI slope close to the oversold region reflects the increasing potential of a bullish reversal.
- Exponential Moving Average: The downsloping 20-day EMA would offer additional resistance against bullish bounces.
- Why Is Crypto Market Up Today?
- Trump Tariffs: Crypto Market Surges After $400B Dividend Announcement for Americans
- Michael Saylor Hints Bitcoin Buy As Goldman Sachs Predicts Three Fed Rate Cuts
- What’s Behind Ethereum’s Drop: Macro, TVL, DeFi & Liquidity Zones
- Bitcoin ETFs Record Biggest Daily Outflow Since August as OG Whales Cash Out
- After a 17% Jump, Is Litecoin Price Rebound Sustainable Amid Dominant Sell Activity?
- Cardano Price Soars 10% Amid Retail Accumulation: Will Bulls Target $1?
- Bitcoin Price: How Low BTC Could Fall by the End of 2025?
- Post-Giveaway Supply Shock: Impact on FUNToken’s Liquidity and Market Depth
- Aster Price Poised to Hit $2 as Coinbase Adds ASTER to Listing Roadmap
- Filecoin Price Rockets 51% as Grayscale’s FIL Holdings Hit Record High — What’s Next for FIL?
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
