Published 8 hours ago
PEPE Price Prediction: The trending Meme cryptocurrency PEPE continues to reward its holders with massive gains as its popularity grows day by day. Today, the prices witnessed a 108% rally as the world’s largest cryptocurrency exchange Binance and some other famous exchanges announced their listing plans which suggest this popular coin will get a massive inflow of trades. Here’s what the future holds for PEPE as per the technical analysis.
Key Points:
- A massive growth in any asset price is usually followed by a correction to stabilize the price trend for further growth
- The higher price rejection candles at $0.000014 reflect the exhausted bullish momentum
- The intraday trading volume in the XRP is $1.42 Billion, indicating a 292.5% gain.
Source- Tradingview
Pepecoin continues to witness remarkable growth as more popular crypto exchanges are announcing their listing for this trending meme cryptocurrency. Today, the coin showed a 108% growth and marked a new All-Time high at $0.0000014, while its current market cap reached $1.5 Billion.
However, the hourly chart shows a high wick rejection at the ATH level indicating that short-term investors are booking their profit. If the coin price formed a local top at $0.0000014, the coin holders are likely to witness a significant rally.
Also Read: Uniswap Data On PEPE Coin Reveals Real Picture Of Memecoin Craze
After a massive growth, the correction phase is common and in fact, beneficial to check price stability at reclaimed levels. As per the Fibonacci retracement tool, the potential correction may revisit the $0.00000315, or $0.0000025 mark to meet the 23.6% and 38.2% FIB levels respectively.
Investors should closely watch these crucial levels to grab pullback opportunities as a more direct rally is unlikely until this memecoin gains some other external news.
Technical Indicator
Exponential Moving Average: In the hourly chart, the 20-day EMA acts as excellent dynamic support to assist buyers during occasion pullbacks.
Relative Strength Index: The overbought RSI slope also indicates the buying activity has overextended and the prices are likely to witness a correction phase.
XRP Intraday Price Levels
- Spot price: $0.0000038
- Trend: Up
- Volatility: High
- Resistance level- $0.000004 and $0.0000045
- Support level- $0.00000315 and $0.0000025
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-price-prediction-is-it-too-late-to-buy-pepecoin-after-its-massive-108-price-rally/