Advertise
Sohrab Khawas
Sohrab Khawas
Author
Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.
- Nov 09, 2023 07:43 UTC
-
PEPE Price Analysis: Back In Action, PEPE Eyes 40% Jump!
Following the falling channel breakout, the PEPE price trend gives a 95% jump.
The dynamic support of the 50-day EMA helps the meme coin sustain an uptrend.
PEPE price action teases a 40% hike if the uptrend sustains momentum.
As the market regains bullish momentum, meme coins like the PEPE coin price capitalize on short bullish spurges. Maintaining the overall downtrend in a falling channel, the PEPE coin attempts to start a recovery rally to change the overall trend.
Moreover, with recent improving conditions, PEPE price prediction has turned optimistic for the coming year.
Despite a high-speed pullback phase of a 65% decline between July and September, the Uptober spirits led to a trend reversal in PEPE price. With a double bottom reversal at $0.0000006028, the meme coin showcases a sharp increase in bullish trend momentum.
Rising above the 50-day EMA, the trend reversal gives an upside breakout of the falling channel pattern in the daily chart. The uptrend accounts for a price jump of 115% in the last three weeks and continues to head higher.
Currently trading at $0.0000013349, the PEPE price shows a bullish intraday growth of 12.47%, forming an engulfing candle. Further, the short-term price action shows a rounding bottom breakout teasing a price jump to $0.0000015.
Technical indicators:
EMA: The 50-day EMA continues to provide dynamic support and sustains a positive trend.
MACD: The MACD and signal lines diverge to regain the bullish alignment and avoid a negative crossover.
Will PEPE Price Jump 40% This Year?
With Bitcoin gaining momentum above $36K, the altcoins, especially meme coins, are getting a bullish revival. If the ongoing uptrend is gaining momentum, the PEPE price rally can reach the $0.00000185 mark, accounting for almost a 40% hike.
However, a pullback under $0.000001185 can drop the prices to $0.0000010.
Yes 
No 
