- Pepe price has increased by 88% since May which showcases the bulls’ strength.
- PEPE crypto price declined by 35% in a month; defending $0.0000100 is crucial.
Since March, Pepe has witnessed strong buying pressure and has surged by 1000% till now. The price has risen by taking support on the trendline for the past few months. Currently, the price has slipped below the trendline and seems to invite sellers at this point.
Based on the chart structure, the Pepe crypto price has slipped below the trendline but sellers are not too strong for a directional move. On a wider frame, the price has been rising by taking pullbacks. Currently, the PEPE crypto price is in the pullback zone and the recent fall might convert into a pullback.
At press time, the Pepe price traded at $0.0000114 which has remained neutral for the past 24 hours. The market capitalization is $4.82 Billion and the 24-hour trading volume is $511.89 Million.
Pepe Price to Show Bullish Momentum Soon?
$PEPE / $USD – Update
1100 hold is bullish .. Hold for a bit longer and i will enter more here while we hold above pic.twitter.com/asQyiluIVt
— Crypto Tony (@CryptoTony__) June 22, 2024
A user on X suggests that the Pepe crypto price might remain bullish over the $0.0000110 mark. A buying signal can be generated over this mark and sellers might show interest if the price slips below the $0.0000110 mark.
Will PEPE Price Come Under Strong Buying Pressure After Pullback?
On a wider time frame, the Pepe crypto price has been in a bullish trend and triggered a pullback. If the digital asset price manages to surpass the $0.0000110 mark and rises, buyers may participate.
Track all markets on TradingView
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Suppose the Pepe price surpasses the 20-day exponential moving average, investors may show interest and the price may gain bullish momentum. The rise in trading volume might help the price to record a new all-time high.
The hurdle of $0.0000100 is crucial and the price may show respect at this level. On the other hand, if the Pepe crypto price slips below the $0.0000100 mark, most investors might prefer to book profits. Profit booking may trigger strong selling pressure.
Based on the technical indicators, the Pepe price is trading over the 200-day EMA indicating the buyers’ strength. RSI is 45 and developed a golden crossover with an RSI-based moving average.
Conclusion
Pepe crypto price has shown significant bullish momentum since March, with a surge of 1000%. There are indications that the price may experience a pullback, but if it manages to surpass key resistance levels, it could trigger further buying pressure. Investors are closely watching the $0.0000110 mark as a potential bullish signal. Additionally, surpassing the 20-day exponential moving average and increasing trading volume could potentially lead to a new all-time high. However, it’s important to note that the $0.0000100 level is a crucial hurdle, and a slip below this level may result in profit booking and strong selling pressure. The technical indicators suggest that buyers are currently in a strong position.
Technical Levels
The Pepe crypto price is expected to take support at the $0.0000100 and $0.00000650 levels. The price may face resistance from the $0.0000150 and $0.0000170 mark.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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