Can $PEPE Recovery Hit $0.00002 In December?

Pepe Coin Price Prediction: the PEPE price breakout from $0.0000016 should bolster buyers for higher recovery

Published 10 hours ago

Pepe Coin Price Prediction: Fueled by the recent meme coin frenzy, PEPE price continues its ascent, forming a bullish pattern with a remarkable 45% increase over the past 2 weeks with a trendline breakout. This unwavering bullish momentum, coupled with Bitcoin price close approach to the $45K level, suggests a potential surge for the broader crypto market

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Is PEPE Price Heading to $0.000021?

The PEPE price rally with an increase in volume shows sustainable growth
The rising price can face a high supply zone at $0.000019
The intraday trading volume of PEPE is at $250 Million with a 67% jump.

PEPE Price Prediction| TradingView Chart

With the buyers overcoming the recent pullback phase, the PEPE coin price skyrocketed with a trendline breakout rally. The trend accounts for a price jump of 45% over the past two weeks and reclaims the psychological mark of $0.0000015.

As per the trend-based Fibonacci retracement, the ongoing bull run challenges the hundred percent Fibonacci mark which may lead to a bullish breakout. In case of an outcome supporting the buyers and holders of pepe coin, the least momentum will prolong the prevailing up trend.

In such a condition, the breakout rally is expected to reach the overhead resistance of $0.0000019 accounting for a 16.6% gain.

Supporting the bullish possibility, the short-term memecoin price trend shows a rounding reversal with a spike in the intraday trading volume. Currently, the PEPE price trades at $0.00000162 with a minimal intraday gain to form a Doji candle reflecting an indecisive daily candle.

Is PEPE Price at Risk of New Correction?

The anticipated rally in PEPE price could face intense supply pressure at $0.000019. This monthly resistance could pressurize the coin price for another correction. However, in such a correction, the coin holders can use the 38.2% or 50% to find a suitable pullback opportunity as the price has historically strong demand pressure.

Relative Strength Index: the daily RSI slope above 60% reflects market sentiment is Bullish
Moving Average Convergence Divergence: a Bullish crossover state between MACD and signal slope, reflects the buyers are traveling a recovery trend.

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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

Source: https://coingape.com/markets/pepe-coin-price-prediction-can-pepe-recovery-hit-0-000002-in-december/