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The Pepe price has jumped 3% in the last 24 hours to trade at $0.000007015 as of 12:30 a.m. EST on a 26% surge in trading volume to $826 million.
Pepe Price Is Approaching Critical Breakout Point Signalling Bullish Rally Ahead
The PEPE price action is currently forming a falling wedge pattern, which traders often consider a bullish reversal pattern.
A potential breakout point is visible, with the price approaching the upper boundary of the falling wedge. The price is also approaching the apex of the wedge. If the price breaks above this resistance and confirms a breakout, it could target the area around $0.00015, suggesting a significant upward move.
A key point to note is the convergence of the 50-day and 200-day Simple moving averages (MA), which could signal a bullish crossover known as a “Golden Cross,” which precedes significant upward momentum.
PEPEUSD Analysis Source: Dextools.io
The Moving Average Convergence Divergence (MACD) indicator reveals a shrinking gap between the blue line and the orange signal line, suggesting that bearish momentum is fading. If the MACD line crosses above the signal line, it would signal a shift toward bullish sentiment for the Pepe price, moving it above the neutral level.
The Relative Strength Index (RSI) on the other hand, is currently at 41.10, indicating that PEPE is neither oversold nor overbought. This indicates that the selling pressure might be easing, increasing the likelihood of a bullish reversal towards the 50 midline level. A further breach above the neutral level would confirm a rally toward the 70 overbought region.
The critical price level to watch for a breakout would be around $0.00000090. If the price breaks out of the falling wedge and crosses this level, the target price could be as high as $0.00000150, which aligns with the height of the wedge formation.
PEPE Price Prediction
PEPE is showing signs of a cautiously optimistic trend, with the potential to rally toward $0.00015. if it successfully breaks out of the falling wedge pattern and overcomes the resistance near $0.0000902.
For this bullish outlook to materialize, confirmation of the breakout, a moving average crossover, and strengthening momentum indicators like the MACD and RSI are essential.
On the downside, if PEPE fails to break above the resistance and falls below the support level at $0.00006694, it could lead to further declines. Traders should wait for a confirmed breakout to signal a possible bullish trend reversal.
PEPU ICO Blasts Towards $13 Million: Best Meme Coin To Buy Now?
Meanwhile, PEPE lovers may want to consider a new Layer 2 meme coin called Pepe Unchained (PEPU), which is storming towards $13 million in early presale funding.
Boom! $12M raised!
Pepe Unchained is crushing milestones and gearing up for the next big leap 🐸💪 pic.twitter.com/Cr2MI0CESp
— Pepe Unchained (@pepe_unchained) September 5, 2024
According to the prominent crypto YouTube channel 99Bitcoins, with over 706k subscribers, PEPU has the potential to be the next big player in the meme coin space. It predicts a possible 100x surge for the token post-launch.
PEPU comes with its proprietary Layer 2 blockchain, thus freeing PEPE from its clunky, Layer 1 network. PEPU offers lower transaction fees, making it more accessible to a wider audience. The enhanced scalability allows for faster trades and supports higher transaction volumes without congestion.
Pepe Unchained’s innovative double-staking mechanism further boosts investor rewards by cutting operational costs and increasing efficiency.
By staking PEPU tokens, you can earn a passive income with an estimated annual percentage yield (APY) of 163%.
Currently, PEPU tokens are priced at $0.0095743. With the price set to increase in about 6 hours, act quickly to secure the best deal.
Buy PEPU tokens here using ETH, USDT, or a bank card to secure the best deal.
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