As a crypto investor with some experience in the market, I’m excited to see PEPE‘s price surge over 10% and outpace other meme coins. The technical analysis indicates that there is a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair. If we manage to close above this level, the price could continue to rise toward the $0.0000125 resistance in the near term.
As a researcher studying the cryptocurrency market, I’ve noticed that PEPE‘s price has surged by over 10% and is currently outperforming other meme coins. Based on current trends, it’s plausible that PEPE’s price could keep climbing towards the $0.0000125 mark in the short term.
- PEPE started a fresh increase above the $0.0000105 level.
The price is now trading above $0.0000110 and the 100-hourly Simple Moving Average.
There is a breakout pattern forming with resistance at $0.0000115 on the hourly chart of the PEPE/USD pair (data source from Kraken).
The pair could rally further if there is a close above the $0.0000115 resistance.
PEPE Price Surges Over 10%
Over the last several interactions, PEPE exhibited a consistent upward trend surpassing the $0.000010 resistance. It surpassed Bitcoin, Ethereum, and MEME coins in growth rate. This surge resulted in a 10% price hike, allowing bulls to drive the cost beyond $0.0000110.
As a crypto investor, I’ve noticed that the cryptocurrency reached a peak of $0.00001148 before consolidating. Currently, it’s maintaining its gains above the significant resistance level of the 23.6% Fibonacci retracement mark from the swing low at $0.00000959 to the high at $0.00001148. Furthermore, this digital asset is comfortably trading above the $0.000011 threshold and the 100-hour Simple Moving Average.
The price of PEPE against USD is showing strong resistance around the $0.0000115 mark on the hourly chart. Additionally, a potential breakout pattern is emerging at this level.
The initial significant resistance lies around $0.00001155. Breaking above this resistance level could potentially push the price upward. The subsequent notable resistance is located at approximately $0.000012. Should buying pressure persist beyond $0.000012, there might be a surge toward $0.0000125 as the next resistance. Further advances could possibly propel the price towards $0.0000132 as the following hurdle.
Are Dips Limited?
If PEPE doesn’t surmount the resistance at $0.0000115, there is a risk of a price decrease. The initial floor lies around $0.0000110. The subsequent significant support can be found either at $0.0000105 or the 50% Fibonacci retracement mark of the uptrend from the $0.00000959 trough to the $0.00001148 peak.
As a researcher studying market trends, if the price breaks down significantly below the $0.0000105 level and closes there, it’s likely that the price will continue to decline further. In fact, it’s possible that the price may fall even lower than the current support zone at $0.000010.
Technical Indicators
Hourly MACD – The MACD for PEPE/USD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for PEPE/USD is now above the 60 level.
Major Support Levels – $0.0000110 and $0.0000105.
Major Resistance Levels – $0.0000115 and $0.0000120.
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2024-05-15 09:58