With Bitcoin trying to sustain dominance at the $70,000 mark, the meme coins are projecting a reversal in the underlying sentiment. Amidst this, the PEPE price trend showcases high chances of prolonging the uptrend.
Further, with just a week left for the Bitcoin Bitcoin Halving, the anticipations for an altcoin season are high. Will PEPE spearhead the market-wide recovery and go for the next massive jump this month? Find out more in our PEPE price prediction.
PEPE Price Performance
Amidst the altcoin sea, the volatility is growing intense as many find a boost while some are under stress. The PEPE meme coin stands somewhere in between, it is preparing for a bounce back, stronger than before.
TradingView
In the daily chart, following the bull run, the PEPE price trend enters a pullback phase. With this, a descending triangle is visible with a solid trendline that keeps the bullish growth in check.
However, the recent bullish reversal from the 50D EMA teases a double-bottom formation within the pullback pattern. Further, the reversal pattern arises at strong support of the $0.0000063 zone.
Thus, the overall chances of a reversal leading to a bullish breakout of the pattern are significant. With this, the sideliners can find an opportunity to buy the dip before the anticipated breakout rally.
Technical Indicators:
EMA: The overall bullish trend continues, with the 200-day and 50-day EMAs remaining in positive alignment. Presently, the 50-day EMA offers dynamic support during the pullback, suggesting a potential rebound.
Also Check Out : Will ETH FOMO Rally Kick-In after the Bitcoin Halving? Here is What You Can Expect from Ethereum
Will PEPE Become The #1 Meme Coin?
With the PEPE price trend at a pivotal stage, a surge in trading volume boosting the reversal could lead to a massive surge. Currently, the meme coin is under the $0.00010 psychological mark, trading at $0.000007305.
As per the trend-based Fibonacci levels, the breakout rally could aim the $0.000015 mark.
Source: https://coinpedia.org/price-analysis/with-pepe-price-breakout-closer-bulls-aim-for-0-000015/