Will Pepe Coin (PEPE) Price Reclaim $0.00000155 Milestone?

In the daily time frame chart, the Frog-themed pepe coin shows a V-shaped recovery from the combined support of $0.00000105 and 78.6% Fibonacci retracement level. This bullish upswing is likely associated with the formation of a bullish reversal pattern called an ending diagonal. The rising price recently breached a local resistance of $0.00000131 indicating the potential for higher gains.

Also Read: Dogecoin, Shiba Inu, ApeCoin, PEPE Finally Decoupling From Bitcoin?

Pepe coin Price Daily Chart

• A bullish breakout from the $0.00000131 resistance set the PEPE price for a 14.2% rally
• The coin price trading above the 4-hour EMAs(20, 50, 100, and, 200) reflects the short-term trend as bullish
• The 24-hour trading volume in the Pepecoin coin is $107.5 Million, indicating a 42.5 % loss.

Source- Tradingview

On August 8th, the Pepe coin price gave a decisive breakdown from the resistance trendline falling wedge pattern. The breakout intensified the buying momentum and pushed the prices 13.6% higher in the last four days.

Amid this rally, the buyers gave a high momentum breakout from the local resistance of $0.00000131. By the press time, the PEPE price trades at $0.00000132 and may see a pullback to retest the breached barrier.

If the coin price shows sustainability above $0.00000131 flipped support, the buyers may continue with the path of a wedge pattern. With sustained buying, the Pepecoin price should rise 16.2% to hit $0.00000155.

Will Pepe coin Witness a Pullback?

The 4-hour time frame chart shows multi-higher wick rejection candles near the $0.00000135 barrier. This overhead supply would trigger a significant pullback which may assist buyers to recuperate exhausted bullish momentum. However, if the minor downtick sustains above the $0.00000129 midpoints of the August 12th daily candle, the bullish thesis will remain aggressive.

• Fibonacci Retracement Level: The pepecoin price correction found a suitable support level of 78.6%. FIB level
• Relative Strength Index: The RSI slope above 70% reflects a high momentum uptrend.