PEPE Price Prediction: Is it Too Late to Buy Pepecoin After Its Massive 108% Price Rally?
PEPE Price Prediction: The trending Meme cryptocurrency PEPE continues to reward its holders with massive gains as its popularity grows day by day. Today, the prices witnessed a 108% rally as the world’s largest cryptocurrency exchange Binance and some other famous exchanges announced their listing plans which suggest this popular coin will get a massive inflow of trades. Here’s what the future holds for PEPE as per the technical analysis.
Key Points:
- A massive growth in any asset price is usually followed by a correction to stabilize the price trend for further growth
- The higher price rejection candles at $0.000014 reflect the exhausted bullish momentum
- The intraday trading volume in the PEPE is $1.42 Billion, indicating a 292.5% gain.
Source- Tradingview
Pepecoin continues to witness remarkable growth as more popular crypto exchanges are announcing their listing for this trending meme cryptocurrency. Today, the coin showed a 108% growth and marked a new All-Time high at $0.0000014, while its current market cap reached $1.5 Billion.
However, the hourly chart shows a high wick rejection at the ATH level indicating that short-term investors are booking their profit. If the coin price formed a local top at $0.0000014, the coin holders are likely to witness a significant rally.
Also Read: Uniswap Data On PEPE Coin Reveals Real Picture Of Memecoin Craze
After a massive growth, the correction phase is common and in fact, beneficial to check price stability at reclaimed levels. As per the Fibonacci retracement tool, the potential correction may revisit the $0.00000315, or $0.0000025 mark to meet the 23.6% and 38.2% FIB levels respectively.
Investors should closely watch these crucial levels to grab pullback opportunities as a more direct rally is unlikely until this memecoin gains some other external news.
Technical Indicator
Exponential Moving Average: In the hourly chart, the 20-day EMA acts as excellent dynamic support to assist buyers during occasion pullbacks.
Relative Strength Index: The overbought RSI slope also indicates the buying activity has overextended and the prices are likely to witness a correction phase.
PEPE Intraday Price Levels
- Spot price: $0.0000038
- Trend: Up
- Volatility: High
- Resistance level- $0.000004 and $0.0000045
- Support level- $0.00000315 and $0.0000025
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