Pepecoin Set the Stage for 38% Rally If Buyers Surpass this Resistance

PEPE Price Analysis: The pepecoin price is witnessing a negative impact of the ongoing uncertainty in the market as it continues to plunge lower in the price chart. However, this downfall moves in a fixed range between two downsloping trendlines indicating the formation of a falling channel pattern. Here’s how this pattern can influence the Pepecoin future and how interest traders can benefit from it.

Key Points

• The falling channel pattern governs the ongoing correction in PEPE
• A potential breakout from overhead resistance will set the PEPE price for a 38% rally
• The 24-hour trading volume in the Pepecoin coin is $222.5 Million, indicating a 21.5% loss.

Source-Tradingview

For over a week, the Pepecoin price has showcased a steady downfall under the influence of a falling channel pattern. From the peak of $0.00000209, the coin price tumbled 28% to reach the current price of $0.00000151.

In theory, the falling channel pattern is known as a bullish continuation pattern which intensifies the underlying buying momentum once the price breach the resistance trendline. Therefore, the falling Pepe price is likely to give a bullish breakout from the overhead trendline.

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A 4-hour candle closing above the trendline could offer an entry opportunity to interested buyers and drive the prices 38% higher to hit the last swing of $0.00000209.

Conversely, until the pattern is intact the Pepe price may continue the downfall march.

Technical Indicator

Moving Average Convergence Divergence: The flattish MACD(blue) and signal(orange) lines with several crossovers signals an indecisive sentiment in the market.

Exponential Moving Average: The 20 EMA acts as a dynamic resistance against rising prices.

Pepecoin Coin Price Intraday Level

• Spot price: $0.00000152
• Trend: Bearish
• Volatility: High
• Resistance levels: $0.0000016 and $0.00000182
• Support levels: $0.00000143 and $0.00000132