As altcoins take the stage amid the latest surge, Pepe reached a new milestone in three months. It currently appears bullish as it saw the biggest gain among the top 5 meme coins in the last 48 hours.
After ending a short-term bearish correction at $0.00000525 in the first quarter of the month, Pepe recovered for three weeks and later lost buzz.
Pulling back into the second quarter, it found support at $0.0000055 last month and initiated a fresh buy. This buy brought more recoveries in the market, and the price broke slightly above a key monthly resistance level in the late month. A rejection occurred there, and the price fell again.
Surprisingly, it stayed above the $0.0000076 level after creating support and started to show signs of strength amid rising volume this week. The price exploded yesterday to where it is changing hands at $0.00001127 after a slight rejection, although it remains strong on the day.
A further surge in volatility could skyrocket the price to a new multi-month high, bringing more recoveries in the market. However, a drop in the buying volume could trigger a slight pullback in the market before regaining momentum daily.
Currently, the bears appear off the market as negative sentiments fade. They must reclaim the current monthly low before we can consider more downward movement in the mid-term.
Pepe’s Key Levels To Watch
Pepe may face a rejection while approaching the immediate resistance level of $0.0000127. Surpassing this level may see us to the $0.0000148 resistance with a potential break up to the $0.000018 level.
For a pullback, the support level to watch for a rebound is $0.0000098. Below it lies the $0.00000835 level, along with the weekly support level of $0.0000076. Failure to hold well above this level could cause another price breakdown.
Key Resistance Levels: $0.0000127, $0.0000148, $0.000018
Key Support Levels: $0.0000098, $0.00000835, $0.0000076
- Spot Price: $0.0000112
- Trend: Bullish
- Volatility: High
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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